Rotem Rosen nabs $135M in Israeli bond financing for NYC hotel, Miami site
The Israeli bond market spigot has turned back on. Rotem Rosen’s MRR Development secured $135 million from the Israeli bond market to refinance its Hotel Indigo on New York City’s Lower East Side and a development site in Miami. MRR secured the financing at an interest rate of 6.2 percent, filings with the Tel Aviv Stock Exchange show. Investors in the raise included Phoenix Insurance and Meitav. The overall loan-to-value ratio is 55 percent, according to TASE filings. Rosen and his partner Indian billionaire Anand Mahindra bought the Hotel Indigo at 171 Ludlow Street, home to popular rooftop bar Mr. […]
This article originally appeared on The Real Deal. Click here to read the full story.
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