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Thursday, 31 January 2013

Goldman Sachs Lends $410Mln for 5 Manhattan Hotels

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Commercial Real Estate Direct Staff Report

Goldman Sachs has written a $410 million loan for the Manhattan Collection, a portfolio of five hotels with 1,491 rooms in Manhattan.

The loan was used by the portfolio's owners, a venture of Pebblebrook Hotel Trust and the Denihan Hospitality Group, to retire in part the $553.2 million of debt against the five properties, as well as the Affinia Dumont, with 242 rooms at 150 East 34th St. The remainder of the debt was paid off with capital contributions by the venture's partners. Pebblebrook invested another $54.9 million, while Denihan invested an additional $57.2 million.

A group of lenders led by KeyBank had provided the senior portion of the previous financing. The remainder was comprised of mezzanine debt. All of it was slated to mature next month.

The loan that Goldman provided requires only interest payments for its entire five-year term and pays a coupon of 3.67...




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“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

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Additional Info

  • Syndicate to Realpoint: No
  • Cities: New York City
  • States: New York
  • Sector: Hotel & Resort
  • Subject: Mortgages/Financing (MOR)
  • Valuation: More than $150 million
  • Private: Yes
Read 388 times Last modified on Thursday, 31 January 2013

Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

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