Hunton & Williams LLP advised a joint venture of Pebblebrook Hotel Trust and Denihan Hospitality Group, which owns six upscale hotels in New York, in its $410 million interest-only, non-recourse secured loan.
The loan has a term of five years and is secured by a first mortgage on the Affinia Manhattan, Affinia Shelburne, Affinia 50, Affinia Gardens and The Benjamin, comprising a total of 1,491 guest rooms. According to Carl Schwartz, chair of Hunton & Williams’ New York real estate group, “the loan provides further evidence of the availability of financing for quality hospitality assets in New York and the strength of the Affinia brand in Manhattan.”
The Hunton & Williams team is led by Carl Schwartz in New York and includes Jill Blumberg, real estate senior attorney in New York, Jason Zeigler, real estate counsel in Washington, D.C., and Christopher Mangin, a tax associate in Richmond.
