OWNERSHIP TO INVEST $32M IN HOTEL INDIGO PROJECT IN MANHATTAN

NEW YORK CITY — Hotel owner 10-12 MLane LLC is investing $32 million in a new 25-story, 190-room hotel situated on Maiden Lane between Nassau Street and Broadway in Manhattan. The 76,500-square-foot property will operate under the InterContinental Hotels Group’s (IHG) Hotel Indigo brand. The hotel, which is set to open in 2016, will be the fifth Hotel Indigo hotel in New York City. The hotel will feature approximately 1,450 square feet of meeting space, a fitness center and a rooftop lounge.