 |
| Photo from Chicago Real Estate Daily |
By: Ryan Ori | May 2, 2013
The developers of the Soho House hotel in the Fulton Market meatpacking district landed a $44.4 million loan to finance construction of the 40-room hotel. Shapack Development and AJ Capital Partners LLC, both based in Chicago, received the loan from New York-based NorthStar Realty Finance Corp., a key step in their plan to convert a former rubber belt factory at 113-125 N. Green St. into a trendy club and boutique hotel. Read More....
That's a detailed update on Soho house hotels developers. The main benefit of using a construction loan is that it reduces the number of loan applications and closing costs.
ReplyDeleteConstruction Equipment Parts