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Ritz-Carlton NoMad scores $200M refi from Bank OZK

NY-Ritz-Carlton NoMad scores $200M refi from Bank OZK-FEATUREIMG
Flag Luxury Group’s Paul Kanavos and Bank OZK’s George Gleason (Bank OZK, Flag Luxury Group, Rafael Viñoly Architects)
Source: The Real Deal

Forget the Ozarks — Bank OZK is getting Ritzy. The prolific lender from Little Rock is taking over financing at the Ritz-Carlton Hotel and Residences in NoMad with a $200 million refinance loan. It takes the place of Atalaya Capital Management, which took over $50 million of debt and gave the hotel a $199.6 million construction loan in 2018. The refi is the latest turn in a development odyssey for Paul Kanavos’ Flag Luxury Group,

Read Full Article on The Real Deal