Smith Hill Capital, the fully integrated commercial real estate debt investment management business of Procaccianti Cos., and Bain Capital announced that the firms' joint venture completed a $235 million refinancing for the iconic Gurney's Montauk Resort & Seawater Spa in Montauk, N.Y., for BLDG Management Co. and Metrovest Equities.
The 158-key property is a celebrated oceanfront resort located on a 2,000-foot private beach in Montauk, divided among 109 guestrooms, 35 suites, eight beachfront cottages and six residences, and features five dining venues; a 30,000-square-foot on-site spa with four spa pools, a full-size indoor saltwater pool, 20 treatment rooms, a salon and a state-of-the-art fitness center; and 25,000 square feet of meeting space.
Smith Hill and Bain Capital's joint venture focuses on serving the financing needs of hospitality companies and assets in demand-driven markets across the United States. The partnership combines decades of industry and ca
