Walker & Dunlop Inc. has advised on an $86 million loan to refinance the Caesars Republic Scottsdale, a Hilton Hotel. The newly constructed, luxury, full-service asset is the first non-gaming hotel by Caesars Entertainment in the U.S.
Walker & Dunlop Arizona Capital Markets, led by Jim Pierson and Keaton Merrell, partnered with Walker & Dunlop New York Capital Markets, led by Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Ari Hirt and Christopher de Raet, to arrange the loan as an exclusive advisor to HCW Development. A regional bank provided the financing.
Jay Morrow and Carter Gradwell of Walker & Dunlop Hospitality guided HCW throughout the process, working in collaboration with the Capital Markets teams.
“HCW has been a valued client of Walker & Dunlop for many years, and we were thrilled to be part of this refinance,” said Pierson. “With more than $500 million in closed loans together, we deeply appreciate both their partnership and friendship.”
Opened in March 2024, the 11-story property located in Scottsdale Fashion Square features 265 guestrooms, including five exclusive top-floor penthouse suites with panoramic views, outdoor terraces and full kitchens, alongside 28 luxury suites. Amenities include three restaurants, two pools and more than 20,000 square feet of event space, including a 7,000-sq.-ft. ballroom that opens to Cleopatra’s Pool & Bar.
“Our collective team is thrilled to have played a role in this exceptional hotel’s legacy working alongside HCW,” said Gradwell, senior director, hospitality, Walker & Dunlop. “The Caesars Republic Scottsdale epitomizes the luxury-leisure segment that is the pinnacle of hospitality capital markets & consumer demand today and the foreseeable future.”
