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Three Transactions to Know

NATIONAL REPORT—Hotel Business is tracking transactions. Holliday Fenoglio Fowler L.P. (HFF), NKF Capital Markets and Berkadia’s Hotels & Hospitality group have recently made deals. Here are the details.

HFF Arranges Sale of Sheraton Denver Downtown Hotel
HFF has sold the Sheraton Denver Downtown Hotel, a 1,231-room, full-service hotel housed within a 1.9-million-sq.-ft. mixed-use development in downtown Denver. The HFF team marketed the property on behalf of the seller, a partnership operated by The Chartres Lodging Group LLC. A joint venture between High Street Real Estate Partners and Eagle Four Real Estate Partners acquired the asset.

NKF Capital Markets Arranges $23M Refinancing for Hewing Hotel in Minneapolis
NKF Capital Markets has successfully arranged a $23-million refinancing loan for Hewing Hotel in Minneapolis. Executive Managing Director Ben Greazel of NKF’s Chicago Capital Markets group originated the four-year, non-course loan on behalf of the borrower, an experienced sponsor with a long track record of success. Greazel secured the financing with Chicago-based Alliant Credit Union.

Berkadia Secures $56M in Financing for Property in Naperville, IL
Berkadia’s Hotels & Hospitality group has secured $56 million financing of the Water Street District, a mixed-use development along the Naperville Riverwalk in Naperville, IL. The hospitality company secured the refinancing loan on behalf of Marquette Companies through Voya Financial. The transaction closed on August 30. The competitive bridge loan will provide short-term financing as the project exits the construction phase and matures into the market.

 

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