|
Cronheim Hotel Capital (“CHC”) has secured a $120,000,000 refinancing on behalf of LAM Generation for the 341-key Renaissance Hotel located at 112 W 25th St., New York, NY.
Senior Managing Director, Beau Williams, sourced the loan with a life company. “Lenders have been extremely reluctant to repatriate equity over the last several months but we ultimately were able to match Jeff Lam (Principal of Lam Generation) with a great lender and tailor a structure that was in line with his investment strategy. Jeff truly built a wonderful hotel and one that deserved exceptional financing and we were able to accommodate such by building off the beauty and wonderful performance of this hotel,” noted Beau Williams.
Lam Generation is a full-service real estate development, investment and management company based in New York City. Founded in 2005, the company has developed ground up over 1.5 million square feet of real estate assets in Manhattan and Brooklyn which includes hospitality, residential, office and retail.
Cronheim Hotel Capital
Cronheim Hotel Capital and its affiliate, Cronheim Mortgage, provide debt and equity for a wide array of commercial real estate. The principals of CHC have seven decades of combined experience in commercial real estate capital markets and have completed over $9 Billion of capital transactions. Widely recognized as authorities in the hospitality finance space, they bring unique capital relationships that result in financing options not otherwise available in the market. Primarily, the CHC team is committed to understanding and advancing client needs and exceeding expectations of service and insight. CHC has closed numerous hotel financings from a broad range of capital sources, including its insurance company correspondents, for whom they service a portfolio in excess of $2.0 billion.
| 
