Thursday, April 25, 2019

HFF announces refinancing for dual-branded downtown Austin, TX hotel


                 Aloft and Element Austin Downtown Hotels, Austin, TX


CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged a refinancing of the Aloft and Element Austin Downtown.

 HFF worked on behalf of the borrower, White Lodging, to place the 10-year, fixed-rate loan with PGIM Real Estate Finance.  Loan proceeds will be used to retire the existing construction loan, repatriate a portion of sponsor equity and cover closing costs.


Nicole Aguiar
 The dual-branded development opened in July 2017 as the first dual-branded hotel in Austin and includes the LEED-certified 278-room Aloft Austin Downtown and 144-suite Element Austin Downtown along with two restaurants and bars.

Danny Kaufman
 The development is one block from the confluence of the world-renowned Sixth Street Entertainment District and Congress Avenue, which provides live music venues, restaurants and retail within walking distance.

  Additionally, the hotel is proximate to the Second Street District, Austin Convention Center, University of Texas at Austin and the Texas State Capitol Building. 

 The HFF debt placement team representing the borrower consisted of senior managing director Danny Kaufman, managing director Christopher Carroll, senior director Jeff Bucaro and director Nicole Aguiar along with senior managing director Doug Opalka. 

Christopher Carroll
 About White Lodging

White Lodging, established in 1985, is one of the leading ownership, development, and management companies in America. 

 An innovative trendsetter, the organization’s portfolio includes convention, urban lifestyle and suburban select hotels with more than $1 billion in managed revenue.  

White Lodging operates more than 90-premium hotels, 30 restaurants and 30 brands in 20 states.  

Doug Opalka





Success knows no boundaries at White Lodging, where associates and leadership have consistently earned superior guest satisfaction scores, top market share and industry-leading profit margins while recruiting the best, brightest and most passionate professionals in every discipline for three decades.  

White Lodging is a proud winner of the Gallup Great Workplace Award.  

For more information about White Lodging, visit www.whitelodging.com, or connect on Facebook, Twitter, LinkedIn and Instagram.

 About PGIM Real Estate Finance

PGIM, the global investment management business of Prudential Financial, Inc. (NYSE: PRU), is one of the largest real estate investment managers in the world, with more than $168.4 billion in gross real estate assets under management and administration, as of Dec. 31, 2018.  


Jeff Bucaro

Through its PGIM Real Estate Finance and PGIM Real Estate businesses, PGIM leverages a 140-year history of real estate lending on behalf of institutional and middle-market borrowers, a 49-year legacy of investing in commercial real estate on behalf of institutional investors and the deep local knowledge and expertise of professionals in 31 cities around the world.

 

PGIM Real Estate Finance, the commercial mortgage business of PGIM, is an international full-service, commercial and multifamily mortgage finance business.  

Offering one of the most comprehensive lines of real estate finance products in the world, PGIM Real Estate Finance originates loans for Fannie Mae DUS®, Freddie Mac and specialized affordable housing programs; FHA; Prudential’s general account; and other institutional investors.

  For more information, please visit http://www.pgimref.com/real-estate-finance.

 


 CONTACTS:

DANNY A. KAUFMAN

HFF Senior Managing Director

(312) 528-3650

dkaufman@hfflp.com

 

CHRISTOPHER CARROLL

HFF Managing Director

(312) 528-3650

ccarroll@hfflp.com

 

JEFFREY G. BUCARO

HFF Senior Director

(312) 528-3650

jbucaro@hfflp.com

 

NICOLE AGUIAR

HFF Director

(312) 528-3650

naguiar@hfflp.com

 

DOUG OPALKA

HFF Senior Managing Director

(512) 532-1900

dopalka@hfflp.com

 

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

 

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