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Press Release
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Contact: Nick Derasmo (212.841.7505) |
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SONNENBLICK-GOLDMAN COMPANY ARRANGES $135,000,000 ACQUISITION FINANCING FOR RIHGA ROYAL NEW YORK |
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Monday, March 19, 2001
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New York, NY
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Sonnenblick-Goldman Company, acting as advisor to Thayer Lodging Group, has arranged $135,000,000 of acquisition financing for Rihga Royal New York, located on West 54th Street between Avenue of the Americas and Seventh Avenue in Midtown Manhattan. The architecturally distinctive Rihga Royal is the tallest hotel in New York and offers spectacular views of Central Park and both the Hudson and East Rivers.
Completed in 1990, the 55-story, landmark Rihga Royal Hotel contains a total of 496 luxury suites. The hotel also contains the renowned Halcyon Restaurant, approximately 11,000 square feet of meeting facilities and a full-service health club.
According to Mark Gordon, Managing Director and head of Sonnenblick-Goldman Company's International Lodging & Leisure Group, "The terms and conditions of the debt available for a hotel of this type are reflective of the capital market's interest in the first-class, full-service sector of the lodging industry." Mr. Gordon further commented that "the financial markets continue to demonstrate that significant capital is available from both national and
international sources for lodging transactions of this caliber." |
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Sonnenblick-Goldman, LLC is the industry’s leading independent real estate investment banking firm. Founded in 1893 to serve the financing needs of the real estate industry, Sonnenblick-Goldman, LLC provides a full range of financial services, including debt and equity placements, joint ventures, investment sales and advisory services. Headquartered in New York, Sonnenblick-Goldman maintains offices in San Francisco, Boston, Hong Kong, Shanghai, Sydney and Tokyo. Further information can be found at Sonnenblick-Goldman, LLC’s website at www.cushwake.com/sonngold.
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