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Pryor Cashman represented Cirrus Real Estate Partners in connection with the acquisition of a $130,000,000 construction loan from a major overseas lender. The loan is secured by a 300,000-square-foot hotel, office, and hospitality project in Upper Manhattan.
The project serves as an anchor for the Washington Heights neighborhood and represents one of the most prominent developments in that part of Manhattan in generations.
The transaction highlighted Pryor Cashman's extensive experience in negotiating and structuring complex debt instruments and loan enforcement strategies, as well as its best-in-class knowledge of the hospitality industry.
The Pryor Cashman team was led by Partners Todd Soloway, Todd Marcus, Michael Levison, Joe Shifer, and Dennis Sughrue, with assistance from Associate Michael Kumar.
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