ROBERTDOUGLAS ADVISES 21C CINCINNATI LLC ON THE $13.0-MILLION REFINANCING OF THE 21C MUSEUM HOTEL IN CINCINNATI, OHIO.
RobertDouglas announced today that it advised 21c Cincinnati LLC in the $13.0-million refinancing of the 21c Museum Hotel located in Cincinnati, Ohio. The financing was provided by Republic Bank.
Ranked as the #1 Hotel in the US in 2013 by readers of Condé Nast Traveler, 21c Museum Hotel Cincinnati is a national award-winning boutique hotel, vibrant contemporary art museum, with a signature restaurant, full-service spa, and rooftop bar situated in the heart of downtown Cincinnati. The hotel opened in November 2012 following the complete redevelopment of the historic, 100-year-old Metropole Hotel, and features 156 guestrooms and suites and 8,000 square feet of function space dedicated to exhibiting the art of the 21st century.
“21c Museum Hotel Cincinnati is a remarkable property and an excellent ambassador for this exciting and growing brand”, remarked Chris Ropko, Director at RobertDouglas. “Lenders were drawn to this opportunity by the hotel’s excellent Sponsorship, high-quality finishes, and impressive financial performance. We assembled a number of very strong proposals, providing Ownership with a number of financing options.”
“Sponsorship was focused on replacing construction financing with an efficiently-priced, non-recourse senior mortgage”, remarked Evan Hurd, Director at RobertDouglas. “Ultimately, Republic Bank stood out from a very competitive field and offered a proposal that best met our client’s overall objectives.”
RobertDouglas is a real estate investment banking firm with offices in New York, Los Angeles and San Francisco that specializes in the sale, financing and equity capitalization of hotel, resort and gaming properties throughout North America. Founded by two of the hotel industry’s pre-eminent finance professionals, Rob Stiles and Doug Hercher, RobertDouglas offers exceptional domestic and international institutional investor and lender relationships. RobertDouglas combines the capital markets sophistication of top-tier investment banks with detailed hotel underwriting and asset management experience, providing the firm with unique capabilities in an underserved market. For more information, contact firstname.lastname@example.org or go to www.robert-douglas.com.
ABOUT 21c MUSEUM HOTELS
21c Museum Hotels, the award-winning Louisville, Kentucky-based boutique hotel and restaurant group, was founded by contemporary art collectors and preservationists Laura Lee Brown and Steve Wilson. The couple opened the first 21c Museum Hotel in 2006 along downtown Louisville’s West Main Street, rehabilitating a series of 19th century warehouses. Much more than just a place to spend the night, 21c is an inventive union of genuine hospitality, thoughtful design and culinary creativity — all anchored by a contemporary art museum with thought-provoking exhibitions, interactive site specific art installations and a full roster of cultural programming. 21c currently operates hotels in Louisville, KY; Cincinnati, OH and Bentonville, AR. A hotel is under construction in Durham, NC (opening first quarter of 2015) and Lexington, KY and projects are under development in Oklahoma City, OK, Kansas City, MO and Nashville, TN. The company is equally focused on creating unique, chef-driven restaurants that are as much a part of the community as the hotel. Currently, 21c operates a diverse roster of restaurants including Proof on Main, located in 21c Louisville; Metropole, located in 21c Cincinnati; The Hive, located in 21c Bentonville and Garage Bar in Louisville, KY.
For more information visit www.21cMuseumHotels.com.