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| DoubleTree Suites by Hilton Hotel Minneapolis, Downtown Minneapolis, MN |
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| Steven Klein |
NEW YORK,
NY, June 1, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it
has secured a $25 million refinancing for the DoubleTree Suites by Hilton Hotel Minneapolis, a 229-key,
full-service hotel in downtown Minneapolis, Minnesota.
HFF worked
on behalf of the borrower, Wheelock Street Capital L.L.C, to secure the
three-year, floating-rate loan with two optional one-year extensions through
BBVA Compass Bank.
Loan proceeds will be
used to refinance a loan, which was assumed by the borrower upon its
acquisition of the property in 2012.
The 12-story
DoubleTree Suites by Hilton Hotel Minneapolis is an all-suite hotel located in
the heart of downtown Minneapolis at 1101 LaSalle Avenue.
The hotel is within walking distance of the
Minnesota Convention Center, Orpheum Theatre, University of St. Thomas –
Minneapolis and the Loring Greenway, and is across the street from Target’s
corporate headquarters. Renovated in
2013, the 150,752-square-foot hotel has 229 suites averaging 446 square
feet.
The HFF debt
placement team representing the borrower was led by managing director Steven Klein and real estate analyst Sam Nidenberg.
”Since
acquiring the asset in 2012, Wheelock created tremendous value through its
hands on approach to asset management,” Klein said. “BBVA Compass provided an attractive and
flexible loan, which enabled the borrower to continue to execute its business
plan and enhance the asset.”
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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