Aug
08
JLL Lends a Hand in Iconic NYC Hotel Sale
ByHighgate and the Rockpoint Group are the new owners of the 168-key Royalton in the heart of Midtown Manhattan.
New York’s own Highgate and the Rockpoint Group, of Boston, have purchased the Royalton Hotel in New York for $55 million, it was announced late last week by JLL, which arranged the transaction on behalf of the seller, FelCor Lodging Trust.
JLL also secured $36.4 million in acquisition financing through Deutsche Bank, on behalf of the buyers.
The Royalton is a full-service boutique hotel at 44 W. 44th St., between Fifth and Sixth Avenues, in the heart of Midtown Manhattan near Times Square, Grand Central Station and Rockefeller Center. The property features 168 guestrooms, a full-service restaurant and bar, a fitness center, and a business center, among other amenities…
