Developers seeking $36M in EB5 finance for Brooklyn hotel
George Washington Immigrant Group announced it aims to provide $36 million in EB-5 financing for VOS Hospitality and SDS.
The funds will be used to finance a portion of the costs of constructing BKLN Autograph, a full-service Marriott Autograph Collection hotel projected to open in Brooklyn, New York in 2022.
“We are excited to work with VOS Hospitality and SDS on this project in the Brooklyn market” said Evan Stoopler, the founder of George Washington Immigration Group.
“This project presents a unique opportunity to bring an upscale hotel property in close proximity to New York cultural and entertainment institutions,” said Managing Partner, Steven Anapoell, who has designed and structured some of the largest EB-5 financings in the United States.
Operating as part of Marriott International’s Autograph Collection, the 29-story BKLN Autograph will be the first upscale boutique-style hotel in Brooklyn’s downtown district.
Upon its completion, the hotel will offer guests upscale accommodations, curated amenities and signature services which are planned to include 201 rooms, a full-service restaurant, rooftop terrace (with bar) and basement lounge, fitness facility with a 50-foot rock wall, meeting & event spaces, concierge services and valet parking.
“We are enthusiastic to help to fulfill an unmet need in Brooklyn and have full confidence in the GW team,” said James Vosotas, CEO of VOS Hospitality.
Featuring a bold exterior design and interior touches that merge progressive art with classic and vintage furnishings and fixtures, BKLN Autograph is designed to integrate with the neighborhood’s growing arts scene.
Thomas Leeser, internationally known for his architectural designs and Wilson Associates, an interior architectural design firm will help to bring the building and its interiors to life. Construction is planned to commence later this year.
https://rew-online.com/2019/05/developers-seeking-36m-in-eb5-finance-for-brooklyn-hotel/
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