New York, NY – RobertDouglas announced today that it advised 21c Cincinnati LLC in the $13.0‐million refinancing of the 21c Museum Hotel located in Cincinnati, Ohio. The financing was provided by Republic Bank.
Ranked as the #1 Hotel in the US in 2013 by readers of Condé Nast Traveler, 21c Museum Hotel Cincinnati is a national award‐winning boutique hotel, vibrant contemporary art museum, with a signature restaurant, full‐service spa, and rooftop bar situated in the heart of downtown Cincinnati. The hotel opened in November 2012 following the complete redevelopment of the historic, 100‐year‐old Metropole Hotel, and features 156 guestrooms and suites and 8,000 square feet of function space dedicated to exhibiting the art of the 21st century.
Ranked as the #1 Hotel in the US in 2013 by readers of Condé Nast Traveler, 21c Museum Hotel Cincinnati is a national award‐winning boutique hotel, vibrant contemporary art museum, with a signature restaurant, full‐service spa, and rooftop bar situated in the heart of downtown Cincinnati. The hotel opened in November 2012 following the complete redevelopment of the historic, 100‐year‐old Metropole Hotel, and features 156 guestrooms and suites and 8,000 square feet of function space dedicated to exhibiting the art of the 21st century.
“21c Museum Hotel Cincinnati is a remarkable property and an excellent ambassador for this exciting and growing brand”, remarked Chris Ropko, Director at RobertDouglas. “Lenders were drawn to this opportunity by the hotel’s excellent Sponsorship, high‐quality finishes, and impressive financial performance. We assembled a number of very strong proposals, providing Ownership with a number of financing options.”
“Sponsorship was focused on replacing construction financing with an efficiently‐priced, non‐recourse senior mortgage”, remarked Evan Hurd, Director at RobertDouglas. “Ultimately, Republic Bank stood out from a very competitive field and offered a proposal that best met our client’s overall objectives.”
“Sponsorship was focused on replacing construction financing with an efficiently‐priced, non‐recourse senior mortgage”, remarked Evan Hurd, Director at RobertDouglas. “Ultimately, Republic Bank stood out from a very competitive field and offered a proposal that best met our client’s overall objectives.”
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