SHERIDAN, WYOMING – April 18, 2025 - Strategic refinance backs iconic Montauk resort
In a major move reaffirming confidence in premium hospitality assets, Smith Hill Capital and Bain Capital have closed a $235 million refinancing for Gurney’s Montauk Resort & Seawater Spa. Acting on behalf of BLDG Management and Metrovest Equities, the deal highlights investor interest in high-end, experience-driven resorts even amid evolving capital markets.
An unrivaled luxury destination on Long Island’s coast
A distinctive beachfront property
Spanning 20 acres and boasting 2,000 feet of private beach frontage, Gurney’s Montauk is situated on the eastern tip of Long Island in Montauk, New York. The resort features 158 accommodations, including guestrooms, suites, beachfront cottages, and private residences.
Comprehensive luxury amenities
Guests enjoy access to five dining venues, 25,000 square feet of event space, and the expansive 30,000-square-foot Seawater Spa. The spa is home to a full-size indoor saltwater pool, four spa pools, 20 treatment rooms, a salon, and a fitness center—delivering a truly world-class wellness experience.
Investor confidence in premium hospitality assets
Smith Hill Capital’s long-term vision
“Gurney’s Montauk represents the type of irreplaceable, generational asset that aligns perfectly with our investment strategy—anchored by strong market fundamentals, exceptional sponsorship and long-term value creation,” said Brendan McCormick, managing principal, Smith Hill Capital.
“Even in today’s uncertain capital markets, we continue actively deploying capital for high-conviction opportunities like this. We’re proud to partner with Bain Capital and support BLDG and Metrovest in the continued evolution of this iconic resort, which is uniquely positioned as a luxury destination in one of the most sought-after leisure markets in the country.”
Bain Capital’s flexible financing strategy
David DesPrez, partner at Bain Capital, added, “The Gurney’s Montauk loan exemplifies our strategic approach to commercial real estate lending.”
“This transaction underscores our commitment to providing flexible financing solutions to high-quality borrowers and assets through an uncertain macroeconomic environment.”
Execution driven by collaborative expertise
JLL plays pivotal role
JLL arranged the financing and praised the collaboration involved. “Smith Hill Capital and Bain Capital proved to be outstanding lending partners on the Gurney’s project,” said Christopher Peck, senior managing director and co-head of the New York office, JLL.
“The team’s expertise and collaborative approach were invaluable in financing this unique asset. They immediately recognized the exceptional value of this 20-acre resort in Montauk and their flexible lending solutions perfectly aligned with the sponsors’ requirements.”
A cornerstone of BLDG Management’s portfolio
Justin Kleinman, executive vice president and chief operating officer at BLDG Management, emphasized the property’s stature: “Gurney’s Montauk is an exceptional and iconic property in a one-of-a-kind location with world-class amenities.”
“This property is a premier resort destination in the Northeast and is an elite asset in our portfolio.”
A joint platform with long-term outlook
Smith Hill and Bain Capital’s joint real estate financing platform targets high-demand hospitality markets across the U.S., blending capital markets insight with operational expertise. Their focus remains on assets with strong fundamentals and sustainable long-term value.
Explore more about Gurney’s Montauk Resort & Seawater Spa at https://www.gurneysresorts.com/montauk.