News & Announcements

Weil Advised Atalaya Capital in its $315M Financing for Flagship Ritz-Carlton Hotel

Weil advised Atalaya Capital Management in its $250 million senior construction loan and a $65 million preferred equity investment to finance Flag Luxury Group’s (Flag) construction and development of The Ritz-Carlton’s new flagship hotel in New York City. This project will be the first ground-up hotel construction in New York City completed by Flag, which has developed numerous world-class hotels and resorts, including four Ritz-Carlton properties in Florida. The project is expected to be complete in late 2021.

The Weil team that advised Atalaya was led by Real Estate partner Samuel Zylberberg and included Real Estate partner Nellie Camerik and associate Robert Shmalo.