The real estate investment firm recapitalized the asset through an equity joint venture with Nan Fung Group and debt from Axonic Capital and Athene Annuity & Life Assurance Company.
The six-story hotel will sit on 6.8 acres and feature a 25,000-square-foot conference center with a ballroom, full-service restaurant and bar, and a rooftop lounge area.
Following the Oct. 31 ceremony, Circle Squared Alternative Investments and the PRC Group broke ground on City Line East, a 198-unit luxury apartment project that will also include 8,564 square feet of retail space.
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