Natixis Provides $66 Million of Floating-Rate Financing On Three Hotel Properties
Natixis Real Estate Capital LLC has originated $66 million of floating-rate financing on the NYLO Portfolio for a private Manhattan-based investment company.
The portfolio consists of three high-quality, full-service boutique hotels totaling 539 rooms; two of the properties are located in the Dallas market and the third in the Warwick, Rhode Island market. While all NYLO-affiliated properties are unique, the hotels are designed to maximize light, air, and space throughout by utilizing architectural elements such as high ceilings, exposed brick, and communal common space. Proceeds from the financing will fund both the acquisition of and improvements to the properties, which should make these assets more attractive and known in their respective markets.
The financing was arranged by Keith Kurland from the office of Jones Lang LaSalle (JLL) in New York. Natixis partnered with Lowe Enterprises to complete this financing. Natixis originated a $54 million senior loan and sourced Lowe Enterprises, a hotel operator, investor, and manager, to provide $12 million of mezzanine financing.