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Arriba Capital closes $52.5M construction loan for Houston hotel

Hotel Business

Arriba Capital recently closed a $52.5 million ground-up construction loan for a Holiday Inn Express and Staybridge Suites dual-brand property in the central business district (CBD) of Houston. The post Arriba Capital closes $52.5M construction loan for Houston hotel appeared first on hotelbusiness.com.

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Bayview PACE closes $3.5M funding for MO hotel

Hotel Business

million in C-PACE financing for the construction of an eight-story, 80-room expansion of The Broadway, A DoubleTree by Hilton Hotel in Columbia, MO. The boutique hotel serves as the gateway to downtown Columbia and the North Village Arts District, and is close to three universities and the University of Missouri medical center complex.

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CIM closes $63.87M in loans for two Florida properties

Hotel Business

CIM Group , a community-focused real estate and infrastructure owner, operator, lender and developer, revealed that its CIM Real Estate Debt Solutions business closed on behalf of a CIM-managed fund a $34.97-million The post CIM closes $63.87M in loans for two Florida properties appeared first on hotelbusiness.com.

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Robust new construction, renovation and conversion announcement activity over the last 12 months

Hotel Business

Over the last 12 months, new hotel construction projects, announced renovations and brand conversions continued to grow, with renovation and conversion activity hitting record highs quarter-over-quarter (QOQ). Over the last year, new hotel construction projects, renovations and brand conversion announcements have increased significantly.

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LE: Europe ends ’22 with robust construction pipeline

Hotel Business

In the year-end 2022 Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE) , analysts report that at the close of the fourth quarter, Europe’s total construction pipeline stood at 1,711 projects/260,911 rooms. Through the fourth quarter of 2022, 373 new hotels with 55,647 rooms opened in Europe.

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JLL arranges $750M construction loan for Harvard project

Hotel Business

JLL’s Capital Markets group has arranged a $750 million construction loan for the first phase of the Enterprise Research Campus, a 900,000-sq.-ft., The loan represents one of the country’s largest construction loans closed this year. mixed-use development minutes from Harvard University in Allston, MA.

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Palladius, Marquee JV provides construction financing

Hotel Business

million loan to finance the construction of the Cambria Hotel Hillsboro, a four-story, 115-key asset in Hillsboro, OR. Our decades of experience owning, operating and financing hotels gave us great confidence in making this loan, and we look forward to contributing our knowledge to support the project’s success. The 22,000 sq.-ft.