Strategic Partnership to Originate and Purchase Hospitality Loans Across All Major US Markets as Madison Newbond

NEW YORK, Nov. 08, 2021 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, and Newbond Holdings (Newbond), a vertically integrated real estate investment and operating platform founded by Neil Luthra and Vann Avedisian, today announced the launch of Madison Newbond, an institutional lending platform that will provide first mortgages, mezzanine loans and preferred equity to hotel owners and developers nationwide.  The partnership launched with approximately $500 million of initial lending capacity and will add scale in line with the opportunity.

Madison Newbond will build on Madison Realty Capital’s institutional lending platform and deep relationships as well as Newbond’s hospitality industry expertise and strong operational knowledge. The partnership will offer unique financing programs to new and existing borrowers across the hospitality spectrum from limited-service hotels to ultra-luxury resorts and will target opportunities including transitional lending and ground up developments across major metropolitan markets.

“The hospitality industry has experienced significant disruption throughout the pandemic and there is a clear need for creative and flexible lending solutions for hotel owners as they continue to recover from the changes to their business plans,” said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital. “We are enthusiastic about joining forces with Newbond to expand our product offering tailored to meet the evolving needs of hospitality real estate owners and operators.”

“We are excited to launch this partnership with Madison Realty Capital, a firm with a world-class lending platform, and a team that we are deeply familiar with, to provide a wide range of lending options to the hospitality market,” said Neil Luthra, Founding Partner at Newbond. “Madison’s substantial resources coupled with Newbond’s extensive hotel underwriting capabilities will best position the platform to identify and capitalize on exciting opportunities in the hospitality space.”

Madison Realty Capital and the principals of Newbond have significant experience lending and investing in the hospitality sector.  The principals of Newbond have completed over $15 billion of debt and equity investments.  Notable recent Madison Realty Capital transactions include a $105 million loan to Fort Partners for the acquisition and modernization of the Four Seasons Hotel Miami and a $210 million loan to Fort Partners for the construction of the Four Seasons Hotel and Private Residences Fort Lauderdale.

For any financing inquiries or to request additional information about the Madison Newbond platform, please contact Andrew Fichte, a partner at Newbond, at and Josh Zegen, at

About Madison Realty Capital 

Madison Realty Capital is a vertically integrated real estate private equity firm that manages approximately $6.7 billion in total assets on behalf of an institutional global investor base. Since 2004, Madison Realty Capital has completed more than $16 billion in transactions in the U.S. providing reputable borrowers with flexible and highly customized financing solutions, strong underwriting capabilities, and certainty of execution. Headquartered in New York City, with an office in Los Angeles, the firm has over 60 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been frequently named to the Commercial Observer’s prestigious “Power 100” list of New York City real estate players and is consistently cited as a top construction lender, among other industry recognitions. To learn more, follow us on LinkedIn and visit

About Newbond Holdings 

Newbond Holdings, founded by Neil Luthra and Vann Avedisian in 2021, is a real estate investment and operating platform focused on debt and equity investments across multiple real estate product types with a hospitality focus as well as investments in related operating businesses and technology platforms.  The partners at Newbond have completed over $15 billion of debt and equity transactions.  As a vertically integrated operating and investment platform, Newbond is uniquely positioned to create significant value beyond the typical investment process through creative structuring, operations and the development of single and multiple asset brands.


For Madison Realty Capital: Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170

For Newbond: Eric Waters
Great Ink Communications, Ltd.

Tom Nolan
Great Ink Communications, Ltd.

Barrows Hotel Enterprises Considers SPAC Merger

Barrows Hotel Enterprises

Barrows Hotel Enterprises Considers Merger

DUBAI, United Arab Emirates, Nov. 08, 2021 (GLOBE NEWSWIRE) — Barrows, the provider of hotel investment and advisory services for hotels in the Middle East and Africa is considering going public by a merger within twelve months. The company is therefore considering using a SPAC Merger structure to list on the Nasdaq.

With a SPAC Merger, Barrows could be worth over $500 million. The company has become known for property development and providing financing of hotel real estate in the Middle East and Africa. The company also provides corporate advice for hotel owners and hotel operators. During the Covid-19 Pandemic, Barrows closed long-term partnerships with investors from Russia, Africa and the United States.

The capital that Barrows should raise with the merger will be used for in-depth investments and making acquisitions within the industry, according to Barrows Chairman Erwin Jager. Barrows has grown rapidly in recent years and wants to increase further its market position in the coming years. The Hotel Industry is growing rapidly and with Barrows we can add value in many ways and with new technologies.

Barrows Hotel Enterprises internationally manages over 10,000 hotel rooms in more than 10 countries. The company started in 2008 as a real estate investor in the residential market in Dubai. Since 2012, Barrows has changed its strategy and the company is fully focused on the fast-growing hotel industry in the Middle East. Since 2020 Barrows is active in the African Continent.

For more information:

A photo accompanying this announcement is available at

Intravascular ultrasound (IVUS) linked with improved health outcomes in largest-ever real-world analysis of lower extremity peripheral vascular interventions

November 8, 2021

  • Independent analysis includes Centers for Medicare & Medicaid Services (CMS) data from over 700,000 peripheral arterial and peripheral venous intervention patients
  • Data demonstrate a 32% reduction in major adverse limb events, such as amputations, during lower extremity arterial intervention
  • When iliofemoral venous* stenting was guided by IVUS, there was a 31% reduction in the composite outcome of repeat intervention, hospitalization or death, together with a reduced risk of stent thrombosis, embolization and stenosis
  • First real-world study by the Smith Center for Outcomes Research shows the value of IVUS in broad peripheral vascular patient populations, emphasizing the importance of IVUS in optimizing patient care

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology and IVUS solutions, today announced the results of a new large-scale real-world analysis of Centers for Medicare & Medicaid Services (CMS) data on the health outcomes of peripheral vascular interventions guided by intravascular ultrasound (IVUS). The study was conducted independently by the Smith Center for Outcomes Research, with the results presented at the 2021 Transcatheter Cardiovascular Therapeutics (TCT) meeting by Eric A. Secemsky, MD, Director of Vascular Intervention and Interventional Cardiologist at Beth Israel Deaconess Medical Center and Assistant Professor of Medicine at Harvard Medical School in Boston, Massachusetts. The study, supported by Philips, underlines the company’s commitment to a strong evidence base for its innovations in the pursuit of better patient outcomes, enhanced patient and staff experiences, and lower cost of care.

Numerous prospective studies have already shown the benefit of IVUS guidance in peripheral vascular interventions, making it a gold-standard imaging modality for this application. The new study results now show that the outcome observations from these prior studies apply directly to a broader peripheral arterial and peripheral venous intervention patient population, demonstrating strong support for the use of IVUS during peripheral interventions.

“The results of this large-scale study demonstrate favorable long-term outcomes in peripheral vascular interventions when IVUS is used,” said Eric Secemsky, MD. “This analysis, combined with the recent appropriate use consensus on IVUS that was presented at VIVA in October, highlights a clear opportunity to improve health outcomes for millions of patients by broader and more routine implementation of the technology in clinical practice. This is a moment for us to further our efforts in saving lives and saving limbs.”

Peripheral artery disease (PAD): a 32% reduction in major adverse limb events, including amputations, during lower extremity arterial interventions
The study looked at Medicare beneficiaries aged 65 years or older who underwent lower extremity arterial interventions between January 1, 2016, and December 31, 2019. Among 697,794 interventions, the investigators found a 32% reduction in major adverse limb events, such as amputations, over a median 425 days of follow-up. These findings were consistent across disease states, including critical limb ischemia and non-critical limb ischemia, as well as arterial segments such as the iliac (hip area), femoropopliteal (upper leg area) and tibial (lower leg area).

Peripheral artery disease develops when plaque builds up in the vessel wall and reduces blood flow to the limbs, most commonly the legs. It affects more than 8.5 million people in the USA [1]. PAD symptoms include recurrent fatigue, leg pain, and foot or leg wounds that do not heal or heal very slowly. Critical limb ischemia (CLI) is an advanced stage of PAD and is typically associated with high rates of cardiovascular events, amputations, and mortality. CLI patients have low survival rates, with 5-year mortality exceeding 50% [2].

Chronic venous disease (CVD): a 31% reduction in repeat intervention, hospitalization, or death during iliofemoral venous stenting
Separately, the investigators examined Medicare beneficiary data for patients treated between January 1, 2017, and December 31, 2019, in multiple clinical settings, including hospital in-patient settings, hospital outpatient centers, and private office-based clinics, involving 20,984 individual patients. Of these, 72% underwent stenting guided by IVUS. When IVUS was used, there was a 31% reduction in the composite outcome of repeat intervention, hospitalization, or death. In addition, IVUS use reduced the risk of stent thrombosis, embolization and stenosis.

Chronic venous disease (CVD) is both a common and underappreciated problem impacting over 30 million Americans [3]. Advanced CVD impacts over 6 million people in the USA and iliofemoral venous obstruction costs as much as USD 3 billion per year for ulcer care in advanced presentations [4].

“We commend Dr. Secemsky and the Smith Center for Outcomes Research for this on-going study to simplify clinical procedures and improve clinical and patient outcomes,” said Chris Landon, Senior Vice President and General Manager Image Guided Therapy Devices at Philips. “We are committed to supporting evidence-based medical guidelines in pursuit of better patient outcomes. We believe that the ability of IVUS to deliver procedure optimization and confidence enhances patient and staff experiences and lowers cost of care.”

First-ever global consensus for the appropriate use of IVUS in PVD interventions
In October 2021, a team of clinical experts led by Eric Secemsky, MD, established the first-ever global, cross-specialty expert consensus for the appropriate use of IVUS in peripheral vascular disease interventions. This initiative was jointly supported by Philips and Boston Scientific. Today, healthcare providers’ use of IVUS in PVD interventions is not standardized and is therefore inconsistent. The new appropriate-use expert consensus may help establish global standards of care to adopt into guidelines and improve quality of care in PVD.

To achieve consensus, the broad, multi-disciplinary group of global experts used a rigorous methodology. They conducted a systematic and comprehensive review of key clinical IVUS scenarios and decision-making processes before voting on the appropriate use consensus. Through this methodology, the group has established a clinical consensus to identify the optimal use of IVUS and potential knowledge gaps in order to set a standard across clinical specialties and drive positive outcomes for patients. Their findings were shared at a special symposium during Vascular Interventional Advances (VIVA) 2021.

Intravascular ultrasound (IVUS)
Philips is the global leader in IVUS solutions, which are part of the company’s comprehensive portfolio of systems, smart devices, software, and services for peripheral vascular disease aimed at helping clinicians decide, guide, treat, and confirm the right therapy for each patient during their procedure. Phased-array IVUS is an important imaging tool used during venous and arterial interventions. It provides the fast plug-and-play usability and high-fidelity image resolution needed for pre-procedural planning, intra-procedural guidance, and post-procedural optimization of therapy for patients. Using a miniaturized ultrasound transducer mounted on the tip of a catheter, it captures real-time images of vascular disease inside vessels, enabling physicians to standardize and improve procedure care for their patients. Additional workflow optimization is enabled by integrated suite offerings such as Philips’ Azurion 7 with IntraSight platform.

*The venous at the hip joint where the veins from the left and right leg come together into the abdominal aorta
[2] Duff S, Mafilios MS, Bhounsule P, Hasegawa JT. The burden of critical limb ischemia: a review of recent literature. Vasc Health Risk Manag. 2019;15:187-208. Published 2019 Jul 1. doi:10.2147/VHRM.S209241 &

For further information, please contact:

Joost Maltha
Philips Global Press Office
Tel: +31 6 10 55 8116

Fabienne van der Feer
Philips Image Guided Therapy
Tel: + 31 622 698 001

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 17.3 billion and employs approximately 78,000 employees with sales and services in more than 100 countries. News about Philips can be found at


EU still needs Indonesian palm oil: Moeldoko

Jakarta The European Union (EU) still needs Indonesian palm oil, as the country’s palm oil exports to Europe had soared by 26 percent in 2020, according to Presidential Chief of Staff Moeldoko.

Moeldoko conveyed the statement to the Indonesian Palm Oil Farmers Association (Apkasindo) and the EU Ambassador for Indonesia Vincent Piket at the Bina Graha Building, Jakarta, on Monday.

The EU currently applies high and strict standards in exports, not only for palm oil but also for other commodities, he noted.

“One of the standards used is whether the product or commodity has an impact on environmental destruction. This is what everyone, including palm oil farmers, must pay attention to,” Moeldoko expounded.

On the same occasion, EU Ambassador Vincent Piket stated that EU countries harbored aspirations of making Europe a climate-neutral continent by 2050 and reduce carbon emissions by 55 percent by 2030.

Regulations are projected to undergo strict changes or even products that are not environmentally friendly will be prohibited from entering Europe. Therefore, commodities exported to Europe from Indonesia must be produced more sustainably, Vincent stated.

Responding to the statement, Apkasindo Chairman Gulat Manurung remarked that Indonesian palm oil farmers had prioritized sustainability from an economic, ecological, and social perspective.


Source: Antara News

Govt seeks to administer 300 million vaccines by year-end

Jakarta The Indonesian Government is targeting to administer 300 million doses of the COVID-19 vaccine by the end of 2021 under the national vaccination program, Health Minister Budi Gunadi Sadikin has said.

“With this pace, we estimate that by the end of the year, 290-300 million doses will have been injected (in total),” Sadikin informed in a press statement, accessed online here on Monday.

The 300 million doses comprise 168 million first doses and 124 million second doses, he expounded.

President Joko Widodo (Jokowi) has asked that two million vaccine doses be administered each day under the national immunization program to reach the target, the minister said.

“As of yesterday, 205 million doses have been injected. We surpassed the 200 million figure last week. Some 125 million people have received the first dose of vaccination or 60 percent of the target, and 80 million have received the second dose or 38 percent of the target,” he informed.

Earlier, the President had raised the COVID-19 vaccination target in Indonesia.

“Because we had successfully achieved the target, he (President Jokowi) asked if possible in all provinces, the first dose vaccination reaches 60 percent in November and 70 percent in December,” Sadikin explained.


Source: Antara News

Pertamina seeks to promote multiple uses of geothermal energy

Jakarta State-owned energy company PT Pertamina (Persero) is seeking to expand the utilization of geothermal energy beyond power production.

According to the CEO of PT Pertamina Power Indonesia, Dannif Danusaputro, geothermal should be seen as a renewable energy source for many uses, not just for electrification.

“There are other beyond-energy benefits that we can get from the exploration and commercialization of geothermal, such as mineral extraction … which has potential in lithium and silica,” he said, during a talk show at the Indonesia Pavilion on the sidelines of the 26th UN Climate Change Conference (COP26) in Glasgow, Scotland, on Monday.

In addition, geothermal is the only renewable energy source that does not have intermittency issues and can be used to produce green hydrogen through the electrolysis process, he noted.

Green hydrogen can be used as feedstock for related industries such as petrochemical and transportation fuel, he suggested.


Source: Antara News

Civil servants must set example in health protocol observance: govt

Jakarta The Religious Affairs Ministry has urged state civil servants (ASN) to set an example for the community in terms of health protocol implementation.

“Civil servants of the Religious Affairs Ministry must maintain vigilance. Civil servants of the Religious Affairs Ministry must be able to become an example of discipline in implementing health protocols,” Special Staff of the Religious Affairs Minister, Wibowo Prasetyo, said in a written statement received here on Monday.

The recent increase in COVID-19 cases in several countries in Europe, coupled with the discovery of the Delta virus subvariant AY.4.2 in the UK must serve as a warning to adhere to the health protocols, he added.

Discipline in implementing the health protocols is very important in efforts to prevent the spread of COVID-19, even when the community has been vaccinated, he said. Adherence to the health protocols must be ensured in all activities, particularly those involving crowds such as religious activities, he added.

“In the future, there will be a number of religious celebrations and national activities. All of them must be done by implementing the health protocols and in accordance with the guidelines,” Prasetyo said.

The Religious Affairs Ministry has issued Circular Letter No. SE 29 of 2021 on October 7, 2021 regarding Guidelines for the Implementation of Commemoration of Religious Holidays During the COVID-19 Pandemic, he noted.


Source: Antara News

Pfizer COVID-19 medicine rivals Molnuvirapir: minister

Jakarta Pharmaceutical and vaccine manufacturer Pfizer has introduced a COVID-19 antiviral medicine that is claimed to be better than Molnuvirapir, Health Minister Budi Gunadi Sadikin has said.

“Molnuvirapir is the same as the one that made Ivermectin. Is there a rival? There is. Just released by Pfizer today, but as far as in terms of getting approval, Molnuvirapir is still a bit behind,” he said here on Monday.

Approval for Molnuvirapir has been obtained from the United States Food and Drug Administration, he noted. Thus, it is safe to be given to patients confirmed positive for COVID-19 who are yet to be hospitalized, he added.

“Based on clinical trials, this Molnuvirapir can reduce the chance of a person being admitted to the hospital by 50 percent,” the minister said.

Pfizer has claimed that its antiviral medicine has higher efficacy, Sadikin said. It can cut down the chance of hospitalization due to COVID-19 by 80 percent, or even 85 percent, he remarked.

He said the therapeutic strategy or treatment is being pushed as one of the four government strategies for dealing with the pandemic.

Molnuvirapir, which is produced by a US pharmaceutical company called Merck, has issued licenses to eight companies in India for the manufacturing process, he informed.


Source: Antara News