Metrovest, Lloyd Goldman secure $218M refi on Montauk resort
Deutsche Bank provided loan for 158-key hotel, which the partnership acquired in 2018
Metrovest Equities and Lloyd Goldman’s BLDG Management refinanced their luxury resort hotel in the Hamptons to the tune of $217.5 million.
Deutsche Bank provided the loan on Gurney’s Montauk Resort, Commercial Observer reported.
Goldman’s BLDG Management and Metrovest — owned by George Filopoulos — spent about $30 million over the last three years to upgrade the 158-room hotel, which sits on a 2,000-foot-long private beach off Old Montauk Highway.
Improvements include the addition of a “seawater spa” expected to open early next year. The property, about a three-hour drive from Manhattan, includes five restaurants, watersports activities and retail, meetings and events spaces.
BLDG and Metrovest also own the nearby Montauk Yacht Club, which they bought in 2018 and rebranded as the Gurney’s Star Island Resort and Marina, as well as the Gurney’s Newport Resort & Marina, across Long Island Sound in Rhode Island, which the partners acquired in 2017.
Newmark’s Dustin Stolly and Jordan Roeschlaub arranged the financing for Gurney’s Montauk Resort, the publication reported.
Goldman and Metrovest recently secured $110 million from Värde Partners to buy the Sanctuary Camelback Mountain Resort in Paradise Valley, Arizona, according to the Observer, which reported that the partners plan to rebrand it as the Gurney’s Sanctuary Camelback Mountain Resort and Spa.
[CO] — Rich Bockmann