News September 16, 2022
Madison Realty Capital Lends $316M on New Orleans Four Seasons Hotel
Commercial Observer reported that Madison Realty Capital has provided a $315.6 million loan to Carpenter & Company and Woodward Interests for the Four Seasons Hotel & Residences in New Orleans. The loan will fund the completion of the asset’s renovation. The 341-key hotel is part of a 33-story mixed-use tower with 92 condominium units on the top floors, roughly half of which are now sold, including the penthouse which recently sold for just under $13 million, according to the Wall Street Journal. The property will include event space, two restaurants, an outdoor pool and private gardens. It’s also home to Vue Orleans, a 360-degree observation deck with panoramic views of the city. The Four Seasons sits in a prime location roughly 20 minutes from the city’s two airports.