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January 24, 2019
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AZ Resort Refinanced with $63.5 Mil Loan


Scottsdale Plaza Resort, a 404-room, full-service resort hotel in Scottsdale, AZ, was refinanced with a new $63.5 mil loan.

Owned and operated by the borrower, Scottsdale Plaza Resort LLC, since it opened in 1976, the Scottsdale Plaza Resort recently underwent a multi-million-dollar, three-year renovation that modernized guest rooms and public spaces. The resort was ecognized by Trip Advisor with a top 20 ranking and “certificate of excellence” award.

Scottsdale Plaza Resort features five heated swimming pools, a 24-hour fitness center, 24-hour business center, putting green, walking trails, two lighted tennis courts, full-service salon and spa with infrared sauna and 50k sf of indoor/outdoor event space. The property also includes multiple food and beverage options, including a breakfast café, Garden Court; JD’s Sports Bar & Lounge located just off the lobby; Café Cabana poolside café and bar; and The Market, which offers gourmet grab-n-go offerings, coffee and smoothies.

Situated on 40 acres at 7200 North Scottsdale Rd, the hotel’s Scottsdale location puts it in a popular tourist destination that welcomes more than seven million visitors per year. Scottsdale Plaza Resort is positioned about 17 miles northeast of downtown Phoenix in a central location three miles from some of the area’s main attractions, including Scottsdale Fashion Square Mall, the leading luxury mall in the Southwest; Old Town Scottsdale, a renowned entertainment and dining district; Scottsdale Waterfront, an upscale mixed-use development; and Camelback Mountain.

The financing was arranged by Bryan Clark, Olga Walsh and Jeremy Womack with HFF, and funded through Apollo Commercial Real Estate Finance Inc. Loan proceeds will be used to refinance a maturing CMBS loan.

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