News August 12, 2019
Sam Chang Scores $83M MRC Mortgage at Rebranded Midtown Hotel
Madison Realty Capital, one of the nation's leading private debt investment funds, has invested $83 million to refinance a hotel near Rockefeller Center through Sam Chang’s McSam Hotel Group. Chang is a repeat borrower, and the deal closed in just three weeks. The financing will enable Chang to buy out the 25 West 51st Street hotel's current branding partner, Club Quarters, while keeping its doors open to customers. “The hotel is fully operational, and hasn’t missed a beat,” says MRC Managing Principal and Co-Founder Josh Zegen of the transition.