MADISON REALTY CAPITAL GIVES LOAN FOR FOUR SEASONS HOTEL AND RESIDENCES, NEW ORLEANS

KUALA LUMPUR, Sept 20 (Bernama) -- Madison Realty Capital, a vertically integrated real estate private equity firm, has announced providing a US$315.6 million loan to Carpenter & Company Inc and Woodward Interests LLC for the completion of renovation at the Four Seasons Hotel and Residences New Orleans located at 2 Canal Street in New Orleans, Louisiana. (US$1 = RM4.547)

Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital said: “The Four Seasons New Orleans is well positioned along the Mississippi River, between the French Quarter and Central Business Districts, to capitalise on the demand from New Orleans’ robust tourism market and expanding business district.

“We are pleased to leverage our familiarity with the Four Seasons brand to deliver a timely and customised financing solution to an experienced borrower group for a well-recognised New Orleans landmark with exciting cultural attractions.”

According to a statement, the 341-key Four Seasons hotel opened in July 2021 and is part of a mixed-use tower that includes 92 residential condominiums on the top floors.

Operated by the Four Seasons, the residences have a private entrance from the hotel and offer one to three-bedroom units and four-bedroom penthouses. To date, the property has sold 50 per cent of the condominiums.

The highly awarded hotel was named a “Best Hotel in New Orleans” and one of the “Best New Hotels in the World” by Travel + Leisure; a “Best of the Best” New Hotels in the World by Robb Report; and a “Best New Hotel in the Country” by USA TODAY 10Best.

Additionally, the building is home to Vue Orleans, a unique indoor and outdoor observatory with panoramic views of the city and historic and cultural exhibits.

Madison Realty Capital has significant experience investing in Four Seasons Hotels including a US$210 million loan to Fort Partners for the construction of the Four Seasons Hotel and Private Residences Fort Lauderdale.

More details at www.madisonrealtycapital.com.

-- BERNAMA