Magna Hospitality Group
People:
Magna Hospitality Group portfolio
$401 million* – hotel 84.0%, condo 15.0%; Manhattan 100.0%, Bronx 0.0%
163th largest portfolio by dollar value
1,095,837 sqft – hotel 85.0%, condo 14.0%;
320th largest by SF
9 properties – Manhattan 100%, Bronx 0%
906th largest
0 foreclosures, 0 bankruptcies, 1 other court case.
Company Activity past 24 months:
Buyer company: 1 for $159.3 million
Borrower company: 2 for $188.5 million
Top Ten Associated Companies:
Wells Fargo (3), McSam Hotel Group (2), PIMCO (1), Lam Generation (1), Western Alliance Bank (1), Apollo Global Management (1), JPMorgan Chase (1), M&T Bank (1), Ashford Hospitality Trust (1), Shidler Group (1)
Top Ten Associated People:
Sam Chang (2), Devin Chen (1), Alan Pothast (1), Jeffrey Horowitz (1), Robert G. Haiman (1), Stanley J. Wolowski (1), Julie L. Richter (1), F. Austin Peña (1), Matthew Kacheris (1)
Recent activity as company:
• Magna Hospitality Group borrowed $105 million from Wells Fargo for 113-117 West 24th Street, Chelsea, Manhattan on October 22, 2024.
• Magna Hospitality Group borrowed $83.5 million from JPMorgan Chase for 150 West 48th Street, Midtown West, Manhattan on September 12, 2023.
• McSam Hotel Group sold 150 West 48th Street, Midtown West, Manhattan for $159.3 million to Magna Hospitality Group on September 12, 2023.
• Magna Hospitality Group borrowed $101.5 million from Apollo Global Management for 140-142 West 24th Street, Chelsea, Manhattan on November 09, 2022.
• Magna Hospitality Group borrowed $68 million from Western Alliance Bank for 6-10 Water Street, Financial District, Manhattan on November 03, 2022.
• Magna Hospitality Group borrowed $145 million from PIMCO for 338 West 36th Street, Garment District, Manhattan on January 18, 2022.
• Concord Hospitality sold 30 West 46th Street, Midtown, Manhattan for $88.5 million to Magna Hospitality Group on October 06, 2021.
• Magna Hospitality Group borrowed $61 million from KSL Capital Partners for 30 West 46th Street, Midtown, Manhattan on October 06, 2021.
• Magna Hospitality Group borrowed $115 million from Blackstone Group for 350 West 39th Street, Hell’s Kitchen, Manhattan on October 01, 2021.
• McSam Hotel Group sold 350 West 39th Street, Hell’s Kitchen, Manhattan for $166.5 million to Magna Hospitality Group on October 01, 2021.
Latest Stories:
• Magna Hospitality signs $105M refi with Wells Fargo for hotel in Chelsea (October 23, 2024)
• Magna Hospitality pays $159.3M to McSam for hotel in Midtown West (September 13, 2023)
• Concord Hotels sell Midtown hotel for $88.5M (October 06, 2021)
• Sam Chang’s McSam sells 520-key Hell’s Kitchen hotel for $166.5M (October 04, 2021)
• Lender sues over allegedly defaulted $12.5M East Village loan at costume shop (October 04, 2021)
• Magna Hospitality borrows $23.5M from Wells Fargo for hotel in Penn Plaza (January 05, 2021)
Properties: