$113M Israeli bond deal backs NYC’s Hotel Indigo reset

MRR Development has recorded one of the largest pandemic-era transactions by a US real estate firm on the Israeli bond market, a loan worth $113 million to refinance the Hotel Indigo in Manhattan and to buy a site in Miami. The company led by Rotem Rosen and Anand Mahindra bought the hotel in 2018 for $162.5 million, using $73 million in financing from the Israeli bond market.