Blue Owl Capital has provided a $106 million senior loan that replaces the existing debt and positions of The Lowell Hotel, a 74-key boutique hotel in New York City's Upper East Side. A CBRE team led by Matthew Klauer advised Kensico Properties on the refinancing.
Kensico Properties has owned and operated the Lowell since its development as a hotel in 1984. The hotel has 74 guestrooms and suites, many with wood-burning fireplaces, private terraces and residential-style layouts.
"The Lowell represents one of the most storied and irreplaceable luxury hospitality assets in the United States," Klauer said in a statement. "The hotel's unmatched reputation, superior market position, and experienced ownership group made this an exceptional lending opportunity."
The Lowell is home to several food-and-beverage venues including Majorelle, Jacques Bar, The Club Room and The Pembroke Room, and is within walking distance of Central Park, Museum Mile and Madison Avenue's luxury retail corridor.