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.”       

Virtual Event

Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.