ACRES added another hotel to its portfolio with the funding of a $29 million loan to construct a 50,398-square-foot boutique hotel in Downtown Brooklyn. The 21-story hotel will feature the following:
Located within the Brooklyn Cultural District and the Brooklyn Tech Triangle, the hotel will be at the center of a burgeoning neighborhood for new residences and businesses, and proximate to Atlantic Terminal.
The development team behind the project has worked on more than 200 projects in Manhattan, Brooklyn, and Queens over the past three decades.
Exantas Capital Corp.is externally managed by ACRES Capital, LLC. The Company’s primary investment strategies include transitional commercial real estate loans and longer duration commercial real estate credit investments, such as commercial mortgage-backed securities. To see more on EXANTAS, click below.