Monday, March 9, 2020

JLL arranges $12.3 million loan for Minneapolis hotel


Moxy Minneapolis Uptown is a 125-room Marriott-branded boutique hotel at 1121 West Lake Street in the Uptown submarket of Minneapolis, MN

CHICAGO, IL – JLL Capital Markets announced it has arranged a $12.3 million refinancing for Moxy Minneapolis Uptown, a 125-room Marriott-branded boutique hotel in the Uptown submarket of Minneapolis, Minnesota.

JLL worked on behalf of the borrower, Graves Hospitality, to place the five-year, fixed-rate loan with a flexible pre-payment structure with a newly formed debt fund. Loan proceeds were used to refinance the original construction loan.

 Nicole Aguiar

Moxy Minneapolis Uptown was completed in 2018 and is the first ground-up, purpose-built Moxy in the Americas and caters to adventurous professionals looking for a combination of high-design accommodations and a fun, vibrant, social environment. 

The pet-friendly hotel features a fitness center; business center; lobby lounge and bar; listening room; grab-and-go or hot breakfast; and valet parking. 

Gerard Sansosti
Situated at 1121 W. Lake St., the hotel is 3.5 miles southwest of downtown at the epicenter of Minneapolis' Uptown neighborhood, which was made famous by Prince's "Uptown" song and known for its lively, urban feel. 

Moxy Minneapolis Uptown is proximate to Fortune 500 companies and top leisure demand generators, including Target Field, Target Center, U.S. Bank Stadium and Orchestra Hall.

Jeff Bucaro 
The JLL Capital Markets team was led by Executive Managing Director Gerard Sansosti, Executive Vice President Jeff Bucaro and Vice President Nicole Aguiar.

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CONTACTS:

Kimberly Steele
Senior Associate
 Public Relations
JLL Capital Markets
9 Greenway Plaza, Suite 700
Houston, TX  77046
T +1 713 852 3420
M +1 832 244 9994



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