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Chetrit lands Refi for 500 Metropolitan Ave

500 Metropolitan Ave (Credit: Chetrit Group)

Chetrit Group has secured a $133 million loan from Hangang Asset Management to refinance 500 Metropolitan Avenue, according to TRD. The hotel, residential, and retail complex spans 243,156 square feet. 

Dig Deeper: The mixed-use development was completed in 2018, and consists of a 187-key hotel, 42 rental apartments, a retail component (15,000 SF), a 158-space parking garage, plus event space (9,000 SF). It’s located at the corner of Keap Street and Metropolitan Avenue. 

Financing details: The new loan appears to replace $75 million in construction financing provided by Natixis in 2016.

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