Barzilay Development

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    The company acquired On50 in 2014 and executed a value-add investment strategy. It addressed the property's deferred maintenance issues, and partnered in an integrated marketing approach delivered by industry specialist Catalyst.

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    The more than 183,000-square-foot development comprises a 158-key hotel and a 93-unit community. Proceeds are being used to pay off the existing construction loan.

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    Despite transactional and political uncertainty in the first half of 2017, the real estate capital markets held firm, with ample capital and vigorous lender competition creating a robust environment for borrowers.

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