Capstone Equities and Highgate pulled off roughly $130 million in financing to close on their purchase of the W Hotel New York on Lexington Avenue, sources told The Real Deal. LoanCore Capital, a Connecticut-based asset manager, provided 70 percent of leverage on the $190 million purchase of 541 Lexington Avenue in Midtown East, according to sources familiar with the deal. The 697-key property is no longer slated to be operated as a W, sources said. […]
source https://therealdeal.com/2018/05/11/capstone-and-highgate-score-130m-loan-to-buy-w-hotel/
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