Berkadia Facilitates $53.5M Refinancing of ModernHaus SoHo Hotel
Berkadia has recently completed a refinancing project for the ModernHaus SoHo Hotel, a 114-room boutique hotel in the heart of SoHo, with a loan of $53.5 million. The project was executed on October 1, 2025, and was a collaboration between Thor Equities Group and Argentic.
The ModernHaus SoHo Hotel, known for its high occupancy rates, offers guests a unique experience with its modern art collection, Jimmy rooftop lounge and pool deck, an all-day café, fitness center, and expansive outdoor space. Thor Equities Group's Chairman, Joe Sitt, expressed excitement about partnering with Argentic for the refinancing, which successfully secured $53.5 million in proceeds. Berkadia, the institution that executed the project, played a crucial role in facilitating this transaction.
In addition to this project, Thor Equities Group has recently expanded its portfolio with the acquisition of three prime sites in Miami's Wynwood neighborhood and a data center development site. The group has also invested MXN 2.4 billion in an industrial park in Mexico, demonstrating its diversified investment strategy.
The refinancing of the ModernHaus SoHo Hotel, led by Berkadia, has provided Thor Equities Group with $53.5 million in proceeds. This project, along with the group's recent acquisitions and investments, reflects Thor Equities Group's commitment to growth and diversification in the real estate sector.
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