Recent financing deals include Ramsfield providing a $135.2-million loan secured by an 11-property Hilton-branded portfolio and Gantry arranging $190 million of financing for a mixed-use development near Seattle that features the Woodmark Hotel.
Ramsfield funds $135.2M loan secured by Cooper Hotels’ Hilton portfolio
Ramsfield Hospitality Finance (RHF) and funds managed by CarVal Investors have teamed up to provide a $135.2 million mortgage loan secured by the 2,035-room, 11-property portfolio of premium Hilton branded hotels in Florida, Tennessee and Michigan owned by Memphis-based Cooper Hotels.
Cooper Hotels is a family-owned hotel developer, owner/operator and management company. All hotels are leading performers in each of their submarkets, according to the company, and benefit from strong brands like Hilton, Doubletree and Embassy Suites. RHF and CarVal worked closely with Cooper Hotels to complete this new loan facility in under three weeks after negotiations with the current lender hit a stalemate.
The CarVal/Ramsfield partnership, which has completed in excess of $2 billion of hotel debt investments together, is actively looking to originate mortgage, mezzanine loans and preferred equity investments on hospitality assets throughout the country.
Gantry secures $190M of financing for Seattle-area mixed-use project
Gantry has arranged a $190 million loan to recapitalize the Carillon Point mixed-use campus in Kirkland, WA. Fronting Lake Washington, the 26-acre property features a mix of class A office, boutique hotel and retail space and includes an active 200 slip marina.
Gantry’s Mike Taylor, principal, and Patrick Taylor, senior associate, with the firm’s Seattle office were engaged on an exclusive basis to secure financing for the property owners. The 15-year loan was placed with Principal Real Estate Investors.
Carillon Point, positioned on the Lake Washington waterfront across 26 acres, is a six-building complex which includes the lakefront Woodmark Hotel and features programmed retail locations tied to an active marina.
Hotel-related financing heats up – Hotel Business appeared first on Hotel Business | Hotel Business – The leading source of hospitality news for owners, developers, designers, brokers, brands, management companies, lenders, REITs & asset managers.