Ernest DesRochers arranged $68.5 million refinancing for the New York Hilton at JFK Airport
New York Hilton at JFK Airport
NEW YORK (December 9, 2013) – Ernest DesRochers, senior vice president/managing director of NorthMarq’s New York City-based regional office arranged refinancing of $68.5 million for the New York Hilton Hotel at JFK Airport, a 356-room hotel located at 144-02 135th Avenue, Jamaica, N.Y. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a RBS Global Securities. The hotel was originally built in 1987 and was formerly a Holiday Inn. The property underwent an extensive Hilton branded Property Improvement Program in 2011 and 2012 for the purpose of converting it to a full service Hilton Hotel. “The JFK Hilton has become the consistent market leader in its segment since the PIP completion in mid-2012,” said DesRochers.
Meet our team
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
