Financing
McSam Hotel Group lands Refi for 350 West 39th Street
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Deutsche Bank provided the debt
Sam Chang’s McSam Hotel Group has secured an $160 million loan from Deutsche Bank to refinance 350 West 39th Street in the Garment District. Upon completion, the under-construction Hyatt Place hotel will span 180,000 square feet, and contain 518 rooms.
Financing breakdown: The new loan consists of a $32 million project loan, a $67 million building loan, and a $61 million senior loan. It replaces $95 million in debt provided by Bank OZK (AKA Ozarks) in 2017, according to TRD.
