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Westin New York Grand Central Hotel – Image Credit Marriott International
Smith Hill Capital and Bain Capital have finalized a $216 million refinancing for the Westin New York Grand Central Hotel.
Smith Hill Capital and Bain Capital announced the completion of a $216 million refinancing deal for the Westin New York Grand Central Hotel. The hotel, situated on East 42nd Street in Midtown Manhattan, is conveniently located near Grand Central Terminal, numerous office buildings, popular tourist attractions, and various public transportation points.
The Westin New York Grand Central features 774 rooms and offers 18,750 square feet of meeting and event space. Additional amenities include a full-service restaurant, Amuse Marketplace & Bar, a fitness center, and valet parking services. The current ownership acquired the property in 2019 and conducted significant renovations in 2021.
The refinancing transaction was facilitated by JLL’s Hotels & Hospitality Group, which represented the sponsors. The deal aims to provide the hotel with enhanced financial flexibility, reflecting sustained investor confidence in Manhattan’s hospitality sector.
The joint venture between Smith Hill Capital and Bain Capital focuses on addressing the financing needs of hospitality assets in key urban and destination markets across the United States.
