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Quadrum Global lands Refi for 11 East 31st Street

Quadrum Global has secured a $73.5 million loan from Square Mile Capital Management to refinance 11 East 31st Street, according to public records. The NoMad hotel spans 78,843 square feet, and contains 250 rooms. 

Financing details: The new mortgage replaces previous financing provided by Barings. The hotel opened its doors in November 2016.

Interesting model: The hotel lacks rooms service and a fitness center; instead, it offers free classes at nearby gyms and has a 24-hour convenience store on site, CO noted.

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