Recent deals include PMZ Realty Capital arranging financing for a Homewood Suites in Lexington, KY and D2 Capital Advisors arranging construction capital for a boutique hotel project in Minneapolis.
PMZ Realty Capital arranges financing for Kentucky Homewood Suites
PMZ Realty Capital LLC arranged a $7.5-million non-recourse acquisition loan with a life insurance company for the Homewood Suites by Hilton Lafayette Mall located in Lexington, KY.
The 91-suite property is located five miles from the University of Kentucky, Blue Grass Airport and downtown Lexington. It features rooms with full kitchens, free WiFi, free parking, a fitness center, a business center and 624 sq. ft. of meeting space.
D2 Capital Advisors arranges $48.6M financing for Minneapolis project
Commutator LLC has secured $48.6 million in construction financing for the development of a to-be-named 123-key boutique luxury hotel located in Minneapolis’ historic North Loop District.
The financing was arranged by D2 Capital Advisors’ Jack Cortese and David Frankel, and was provided by a Seattle-based REIT.
The 133,000-sq.-ft. hotel will include a rooftop bar; a cellar dive bar; leased retail outlets; meeting and event space; and a signature front-of-house restaurant.
The building, which incorporates three historic structures, is designed by North Loop-based Snow Kreilich Architects. The interiors will be designed by Shanghai-based Neri & Hu. Greiner Construction will serve as the general contractor.
Construction will commence this month with hotel opening expected in Q1 2023.