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7/05/23
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In recent hotel financing news, Tucson-based Khangura Development has obtained a $19.1 mil bridge loan for the Residence Inn by Marriott Phoenix Mesa East. The loan was provided by Dallas-based HALL Structured Finance.
Residence Inn by Marriott Phoenix Mesa East |
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Each room of the 127-suite hotel is equipped with a kitchen, dining and living room area, and dedicated workspace. The property was recently constructed and is adjacent to the Mountain Vista Medical Center with easy access to the cities of Mesa, Tempe, and Scottsdale.
In a SoCal hotel financing deal, Lucent Capital arranged $22.1 mil in senior construction financing for the development of Cypress Homewood Suites, a 120-key hotel project near Anaheim. The recourse loan is for two years plus a one-year extension option at 65% LTC.
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