GE Real Estate provides $62m loan to Madison 92nd St. Associates, LLC

GE Real Estate provided a $62 million fixed-rate loan under its Flexible Fixed Rate Program to Madison 92nd St. Associates, LLC to refinance the Marriott Courtyard Upper East Side. It is one of the only major branded hotels in a predominantly residential area. Opened in August 2006, the 226-room Marriott Courtyard Upper East Side is located near the southeast corner of 92nd St. and 1st Ave. The neighborhood has a large portion of the city's healthcare facilities including Lenox Hill, Memorial Sloan Kettering Cancer Center, Mount Sinai Hospital and Medical Center, and New York Presbyterian Hospital. The property's amenities include an indoor swimming pool and whirlpool, health club and business center, and its lobby provides direct access to the restaurant next door. Madison 92nd St. Associates, LLC is affiliated with Madison Equities and NYRE Management. Madison Equities, which conceived and built the property, has developed high quality commercial, residential and hotel properties in Manhattan for over 40 years. Cooper Horowitz and Wall St. Realty Capital acted as mortgage brokers on the deal. GE Real Estate's North American Lending division offers financing for retail, industrial, self-storage, multifamily, office, student housing, regional malls and outlet centers. North America Lending is also a provider of financing solutions for niche asset classes, including affordable housing, golf, hospitality, vacation ownership, manufactured home communities and RV resorts.