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Kensico Properties secures $106M to refinance the Lowell Hotel
The $106 million senior loan from Blue Owl Capital will replace existing debt for the 17-story, 74-key property.
Kensico Properties has secured $106 million in financing to refinance the Lowell Hotel in Manhattan, according to Commercial Observer. The deal provides a senior loan intended to replace the property’s existing debt.
The Lowell Hotel is described as a 17-story, 74-key luxury boutique hotel on New York City’s Upper East Side. It is located at 28 East 63rd Street, just off the corner of Madison Avenue and a few blocks from Central Park.
Blue Owl Capital provided the senior loan, while CBRE’s Matthew Klauer arranged the transaction on behalf of Kensico Properties. Commercial Observer also notes that the hotel, opened in 1927, features 74 guest rooms and suites, including many with private terraces, and includes bars such as the Club Room and the Pembroke Room.