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| Chase Park Plaza Hotel, 232 North Kingshighway Boulevard Central West End, St. Louis, MO |
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| Trey Morsbach |
DALLAS, TX – HFF
announced it has secured a refinancing for Chase Park Plaza Hotel, a
AAA-rated Four-Diamond 338-key hotel in the Central West End area of St. Louis.
Working on behalf of the borrower, an affiliate of Behringer
Harvard Opportunity REIT I, Inc., HFF placed the three-year, fixed-rate loan
through American Real Estate Capital.
Proceeds from the financing will be used to replace existing financing
and complete multiple upgrades to the hotel.
Overlooking St. Louis’ Forest Park, the Chase Park Plaza
Hotel is located on 4.31 acres in St. Louis’ Central West End neighborhood at
232 N. Kingshighway Boulevard, four miles west of downtown.
The eleven-story
hotel has hosted every U.S. President from the 1920s to the 1990s in addition
to kings, queens, rock and opera stars, actors and professional athletes.
Bob Hope, Frank
Sinatra, Dean Martin, Jerry Lewis and more performed at the hotel’s Chase Club.
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| Michael Cosby |
Built in 1929, the hotel has gone through several upgrades
and today contains four restaurants, approximately 50,000 square feet of grand
banquet halls and meeting rooms, a five-screen movie theater, outdoor swimming
pool, health club, office space, salon and spa and 36,000 square feet of retail
shops.
The
HFF debt placement team representing the borrower was led by senior managing
director Trey Morsbach and associate director Michael Cosby.
Behringer creates, manages and distributes specialized investments
through a multi-manager approach that presents unique options for allocating
capital, managing risk and diversifying assets.
Investments sponsored and
managed by the Behringer group of companies have invested into more than $11
billion in assets. For more
information, visit behringerinvestments.com.
American Real Estate Capital (AREC) is a commercial lender,
operating as the loan origination platform for the insurance subsidiaries of
American Financial Group (NYSE: AFG). AFG is a $44 billion holding company
whose primary business is insurance and investments. AREC provides permanent mortgages and more on a national basis.
For a complete
copy of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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