Assignment Overview
RobertDouglas advised 21c Cincinnati LLC on the $13 million refinancing of the 21c Museum Hotel located in Cincinnati, Ohio. The Sponsor was focused on replacing construction financing with a competitively-priced, non-recourse senior mortgage, which was provided by Republic Bank. The Hotel’s excellent physical quality, strong Sponsorship, and impressive financial performance provided the Owner with a myriad of financing options.
Project Overview
21c Museum Hotel Cincinnati opened in November 2012 following the complete redevelopment of the historic, 100-year-old Metropole Hotel, and features 156 guestrooms and suites, 8,000 square feet of function space dedicated to exhibiting the art of the 21st century, a full-service spa, a rooftop bar with stunning views of downtown Cincinnati, and its signature restaurant, Metropole. After its debut, the Hotel was ranked as the #1 Hotel in the US by readers of Condé Nast Traveler in 2013.
Deal Highlights
| Client (Borrower): Lender: Financing Proceeds: Key Count: | 21c Cincinnati LLC Republic Bank $13,000,000 156 |
