Trust to arrange ground-up construction financing for the 116-key Lexington House Hotel, located at 48th and Lexington Avenue in Midtown Manhattan, at a time of unprecedented challenges in the capital markets.
To utilize our hotel industry expertise and our strong relationships with both traditional and non-traditional capital sources to structure a transaction with the most favorable terms and conditions simultaneously with the finalization of project plans and approvals.
CWSG successfully arranged financing for the development of the project in a very challenging finance environment and completed the transaction prior to the finalization of the development plan. Marketing efforts focused on the strong sponsorship, irreplaceable location and unique business model. CWSG sourced a national bank with no prior hotel experience in New York City to finance the first ground-up hotel to be built in Midtown East in nearly 15 years.