The InterContinental Hotels Group has sold three of its EVEN branded hotels to a joint venture between Taconic Advisors and 6R Hospitality with Klirmark Capital.
The sale price was not disclosed, but Cushman & Wakefield announced that it was the exclusive advisor to the JV in raising acquisition finance for the Brooklyn, New York hotels; Rockville, Maryland; and Norwalk, Connecticut.
Stephen Michels, Dan O’Brien and Loren Valla of the firm represented the borrower. MidCap Financial provides initial mortgage loan to facilitate takeover.
All three hotels will continue to operate under the Even Hotels brand under long-term franchise agreements and Crescent Hotels & Resorts has been selected to manage the assets on behalf of the new owners.
With 21 open hotels, almost 3,000 open rooms and 30 hotels in the pipeline, EVEN Hotels is part of the luxury and lifestyle portfolio of IHG Hotels & Resorts – the second largest in the industry worldwide. The most recent openings for the wellness-oriented traveler include the EVEN Hotel Miami Airport in Florida, the EVEN Hotel Seattle – South Lake Union in Washington and the EVEN Hotel Alpharetta in Georgia.
The InterContinental Hotels Group bought the property at 40 Nevins Street in Brooklyn in 2013 for US $ 19 million as part of the launch of the then new EVEN brand. The hospitality giant hired the development group CBCS Brooklyn LLC to build the 204-room hotel. CBCS partners include Sam Chang of the McSam Hotel Group, Barone Management and investor Jimmy Chou.
6R Hospitality, based in New York, is a hotel investment and asset management platform that is part of the 6R Capital Group. Klirmark Capital is an Israeli investment advisor. Taconic Advisors, based in the Hudson Valley, was founded in 1999 by former Goldman Sachs partners Frank Brosens and Ken Brody.
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