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Lightstone Closes $73M Financing For Moxy South Beach

by benzinga.com posted 4months ago 76 views
MIAMI BEACH, Fla., Dec. 10, 2018 /PRNewswire/ -- National real estate investor and developer Lightstone today announced the close of $73 million in financing from Canyon Partners Real Estate LLC® ("Canyon") and CapitalSource, a division of Pacific Western Bank, to develop the 7-story, 202-key Moxy South Beach. The financing package consisted of a $55 million senior loan from CapitalSource and an $18 million preferred equity investment from Canyon. This investment marks Canyon's fifth investment with CapitalSource and second with Lightstone.