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Doubletree Denver Investors Score $55M Refi
Walker & Dunlop has arranged $55 million on behalf of three investors to refinance the Doubletree Denver, a 561-key two-tower hotel located in the Central Park submarket.
The W&D New York Capital Markets team led by Adam Schwartz arranged the loan on behalf of clients Taconic Capital Advisors LP, Pyramid Global Hospitality and Triangle Capital Group, and identified the lender as Hudson Bay Capital.
This refinance will be used to pay off the remaining loan balance and repatriate equity to the sponsor. The floating rate non-recourse loan carries an initial two-year term with a 12-month extension option.
The W&D team also arranged the initial $60 million acquisition financing in February 2022, when the sponsor acquired the Doubletree Denver and the Doubletree Denver Central Park in the same submarket.
The Doubletree Denver benefits from being the primary host for the United Airlines Training Facility.
- ◦Financing
