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| Hilton San Antonio Airport Hotel, San Antonio, TX |
LOS ANGELES, CA – HFF announced today that it has arranged
senior debt financing and preferred equity for two Hilton Hotel locations totaling
731 rooms in San Antonio, Texas and Kansas City, Missouri.
HFF worked exclusively on behalf of Laurus Corporation to
secure a $41 million, three-year, adjustable-rate loan through NXT
Capital. In addition, HFF assisted in
securing a $15 million preferred equity investment on behalf of the borrower
through an affiliate of Lowe Enterprises.
Loan proceeds were used to acquire and reposition/renovate the assets.
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| Hilton Kansas City Airport Hotel |
The Hilton
San Antonio Airport hotel is located at 611 Northwest Loop 410 in San
Antonio. The 14-story property is
situated on 3.7 acres and has 384 guestrooms with amenities such as a
restaurant and bar, 16,000 square feet of meeting space, 24-hour business
center, fitness center, pool and putting green.
The Hilton
Kansas City Airport is located at 8801 Northwest 112th Street in Kansas
City. The 347-room property has 21,000
square feet of meeting space, a restaurant and bar, 24-hour business center,
fitness center, pool, sauna, tennis courts and ballrooms.
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| Paul Brindley |
The HFF team representing the borrower was led by senior
managing directors Paul Brindley and Michael Ross along with
managing director John Bourret.
Laurus Corporation is a real estate investment and development company
that specializes in hotels and resorts, office buildings, multifamily and
mixed-use properties.
Laurus employs an
entrepreneurial investment strategy designed to consistently achieve attractive
risk-adjusted returns by creating capital appreciation opportunities through repositioning,
restructuring, re-development and intensive post acquisition asset
management. It is affiliated with
Ethika Investments, LLC, a real estate investment firm.
Contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
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