Affinius Capital Refis Arlo Midtown Hotel With $83M Loan
By Andrew Coen March 24, 2023 11:01 am
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Quadrum Global has sealed an $82.5 million debt package to refinance its Arlo Midtown hotel, property records show.
Affinius Capital — formerly Square Mile Capital — provided the loan on the 489-key boutique hotel at 351 West 38th Street, according to property records made public Wednesday. Quadrum, which also owns four Arlo Hotels properties in Manhattan and Miami, debuted the Midtown location in May 2021.
Manhattan-based Quadrum is run by its CEO, Oleg Pavlov, who is also founder of Arlo Hotels. Square Mile Capital, which changed its name to Affinius Capital after integrating with USAA Real Estate on March 9, supplied an $80 million refinance loan on Quadrum’s Arlo NoMad hotel at 11 East 31st Street, which opened in November 2016.
The first loan under the Affinius brand was a $248 million refi on BentallGreenOak and Slate Property Group’s luxury multifamily tower in ManhattanWest called The Biltmore.
Officials at Affinius and Quadrum did not immediately return requests for comment.
Andrew Coen can be reached at acoen@commercialobserver.com
