Assignment Overview
RobertDouglas advised Chartwell Hospitality and Soundview Real Estate Partners on the refinancing of its existing loan for the Residence Inn & Courtyard Kansas City Downtown Convention Center. The new, fixed rate senior mortgage has a three-year term, secured through a best-in-class institutional balance sheet lender.
Project Overview
Developed in 2016, the 261-key, 10-story Hotel, is built to a quality that far exceeds the Courtyard and Residence Inn Brand standards as is typically associated with Chartwell’s developments. The irreplicable Hotel features steel and masonry construction, an expansive shared lobby with 20-foot floor-to-ceiling windows and a prime location in the bullseye of Downtown Kansas City’s major demand generators.
The impressive combination of a 221,000 SF dual-branded Hotel, 53,120 SF parking garage with valet service, and 5,300 SF leased retail space creates the high-end experience of a full-service hotel with select-service flow-through.
Deal Highlights
| Client (Borrower): Lender: Debt Proceeds: Key Count: | Chartwell Hospitality and Soundview Real Estate Partners Balance Sheet Lender $36.0 million 261 |
