Pryor Cashman client, developer Cape Advisors, Inc., and Morgans Hotel Group today announced the opening of a new hotel, the Mondrian SoHo, on March 1, 2011. The hotel, located at 150 Lafayette Street in Manhattan, will be operated under the Mondrian brand of the Morgans Hotel Group.
 
Pryor Cashman represented Cape Advisors, Inc. in all phases of the transaction, including:

• The preparation of all of the organization documents;
• The acquisition of the land and the financing thereof
• The construction and mini-permanent loans
• The negotiation of the hotel management and technical service agreements with Morgans Hotel Group

Pryor Cashman Partners Thomas J. Malmud and Joseph L. Brasile, both members of the firm’s Real Estate Group, were among the Pryor Cashman attorneys representing Cape Advisors, Inc. during the course of the transaction.