Lloyd Goldman’s BLDG Management and Metrovest Equities secured a $235 million refinancing for Gurney’s Montauk Resort & Seawater Spa, with Smith Hill Capital and Bain Capital providing the loan. JLL Capital Markets arranged the deal. The 158-key resort, which includes a private beach, spa, cottages, and restaurants, was reappraised at $280 million during special servicing, up from $244 million in 2021. BLDG had defaulted on its prior $217 million loan but extended repayment by a year after a $9.4 million paydown and a $3.1 million personal guarantee. The property recently reopened following renovations.
Lloyd Goldman’s BLDG Management
