Meridian Capital Group

Meridian Arranges $94M Financing for Marriott Duo at JFK Airport

December 02, 2022

Meridian Capital Group arranged $94 million in financing for the Marriott & Residence Inn at JFK Airport in Jamaica, Queens on behalf of 135th Avenue JFK Property LLC. 

MSD Partners, L.P. provided the floating rate, interest-only loan. The transaction was negotiated by Meridian senior managing Director Adam Hakim, managing director James Murad and senior associate David Baker. 

Located at 144-02 135th Ave., the property consists of two new-construction hotels operating under the Marriott Franchise brand. The first hotel, a 182-key Residence Inn, recently opened for business. The second hotel, a 360-key full-service Marriott, is more than 90% complete. 

“The closing of this loan demonstrates continued demand from the lending community for quality hospitality products in strategic locations at a good basis,” said Hakim. “MSD was the perfect lender for this deal and provided the flexibility needed to come into the transaction before construction has been finalized.” 

Featuring:
Adam Hakim
Senior Managing Director
Origination
(212)612-0125
[email protected]
James Murad
Managing Director
Origination
(212)612-0291
[email protected]
David Baker
Senior Associate
Underwriting and Loan Placement
[email protected]
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