NEW YORK CITY—Related Companies reports it has closed on two debt investments that include a hotel project in Chelsea near Hudson Yards in Manhattan and a condominium project in Vail, CO.

The deals were consummated as part of its Related Fund Management's credit platform. Related Fund Management, along with its partners, originated a $60-million bridge loan to refinance and fund pre-development for a planned approximately 400-key hotel in Manhattan's North Chelsea district near Hudson Yards. The unnamed sponsor has a well-established track record for developing and operating branded hotel properties in the New York City market, Related officials state.

Related Fund Management also recently originated a $90-million construction loan, together with a Midwest-based bank, for the ground-up development of an 80-unit luxury condominium project in Vail, CO. When completed, the project will be the first newly constructed condominium project in Vail in more than seven years, the company states.

Brian Sedrish, a managing director of Related Fund Management and portfolio manager for the firm's credit platform says, “Both of these transactions represent the distinct transitional opportunities that Related's credit platform was established to capitalize on. We will continue to look for investments that exploit the significant financing gaps in the residential and commercial real estate market nationwide and provide creative financial solutions to sponsors.”

The platform has already invested nearly $300 million to date. Target investments are being sourced across the United States. The investments include distressed debt, high leverage mortgage loans, mezzanine loans, and preferred equity positions in gateway cities including New York, Boston, Chicago, Washington D.C., Los Angeles, San Francisco and Miami and select secondary markets that demonstrate strong supply/demand imbalances.