Cain Closes $175M Acquisition of Manhattans Dominick Hotel With Rebrand on Tap
News Source : Commercial Observer
News Summary
- The Dominick Hotel at 246 Spring Street is about to go through a rebrand and transformation.
- Cain closes on its $175 million acquisition of the Manhattan property once known as the Trump SoHo.
- The 390-key hotel will operate under the Delano banner, the name of Cain’s prominent Miami Beach-born brand.
- The Dominick currently has typical rooms spanning more than 400 square feet, and 37 percent of those accommodations are suites.. Madison Realty Capital and Newbond originated a $180 million loan to Cain for the acquisition and redevelopment.
The Dominick Hotel at 246 Spring Street is about to go through a rebrand and transformation as Caincloses on its $175 million acquisition of the Manhattan property once known as the Trump SoHo, Comme [+2716 chars]
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