BLDG Management Co., Inc. and Metrovest Equities completed a $235-million refinancing for Gurney’s Montauk Resort & Seawater Spa in Montauk, NY. JLL represented the sponsors, securing the financing from a joint venture comprised of Smith Hill Capital and Bain Capital.
Gurney’s is a celebrated oceanfront resort located on a 2,000-foot private beach in Montauk, with a total of 158 keys divided between 109 guestrooms, 35 suites, eight beachfront cottages, and six residences. The sponsors have invested in comprehensive renovations throughout the 20-acre property.
The JLL Capital Markets team handling the transaction included senior managing director and co-head of the New York office Christopher Peck, Hotels & Hospitality Group Americas CEO Kevin Davis, managing director Mark Fisher and director Connor Medzigian.
“Smith Hill and Bain proved to be outstanding lending partners on the Gurney’s project,” said Peck. “The team’s expertise and collaborative approach were invaluable in financing this unique asset. “
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