Square Mile Capital acquires $25M loan position on two New York hotels

Square Mile Capital Management acquired a $25 million B-Note secured by two luxury boutique hotels in New York City – the 343-key Soho Grand located in Manhattan’s Soho neighborhood, and the 201-key Tribeca Grand located in Tribeca.   

The properties are owned by affiliates of Hartz Mountain Industries.  

Square Mile Vice President Michael Lavipour said, “With this transaction we are making an attractive investment backed by high-quality boutique hotels located in two of Manhattan’s most popular neighborhoods.  We continue to seek such loan positions through the expanded debt platform that we launched 18 months ago in collaboration with our strategic partner, USAA Real Estate.”       

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

Suggested Articles

Before the global brands roll into Madrid, consider that what the consumer considered to be luxury has evolved in recent years.

As of January 1, the hotel will formally be rebranded as the InterContinental Shenzhen Dameisha Resort.

The deal gives Onomo a presence in 15 countries with 4,300 guestrooms and a pipeline of an additional 3,000 rooms.