DLJ Real Estate borrows $140M from LoanCore Capital for hotel property in Chelsea

DLJ Real Estate signed a loan agreement with lender LoanCore Capital through the entity Loancore Capital Credit Reit LLC valued at $140.0 million for 5 parcels, including the tax class hotel condominium, retail condo and garage condo, at 835 Sixth Avenue in Chelsea. The deal closed on October 23, 2019 and was recorded on November 12, 2019. The prior lender was Bank of America. The new loan includes a gap mortgage of $47.45 million.
This is the Eventi hotel, the retail and the parking garage. The residential apartment block known as the Beatrice, is owned by Equity Residential and is not part of this financing.

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Direct link to the city’s interactive property map, ZOLA. link

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