JLL Capital Markets arranged a $12.3-million refinancing for Moxy Minneapolis Uptown, a 125-room Marriott-branded boutique hotel in the Uptown submarket of Minneapolis.
JLL worked on behalf of the borrower, Graves Hospitality, to place the five-year, fixed-rate loan with a flexible pre-payment structure with a newly formed debt fund. Loan proceeds were used to refinance the original construction loan.
Moxy Minneapolis Uptown was completed in 2018 and is the first ground-up, purpose-built Moxy in the Americas. The property is nearby Fortune 500 offices and top leisure demand generators, including Target Field, Target Center, U.S. Bank Stadium and Orchestra Hall.
The JLL Capital Markets team was led by executive managing director Gerard Sansosti, EVP Jeff Bucaro and VP Nicole Aguiar.
For comments, questions or concerns, please contact Paul Bubny
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).