Walker & Dunlop (W&D) has arranged $55 million to refinance the DoubleTree by Hilton Hotel 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, Aaron Appel, Jonathan Schwartz, Keith Kurland, Michael Diaz, Triston Stegall and Christopher de Raet 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.
The 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 property along with the Doubletree Denver Central Park in the same submarket. The sponsor subsequently sold the Central Park hotel in late 2023 and used proceeds to reduce leverage of the DoubleTree by Hilton Hotel Denver.
The property benefits from being the primary host for the United Airlines Training Facility, according to W&D.
