06 May HFF announces $63.5M refinancing for Scottsdale Plaza Resort
HFF announced the $63.5 million refinancing for The Scottsdale Plaza Resort, a 404-room, full-service, independently owned and operated resort hotel in the heart of Scottsdale.
The HFF team worked on behalf of the borrower, Scottsdale Plaza Resort, LLC, to place the loan with Apollo Commercial Real Estate Finance Inc. Loan proceeds will be used to refinance a maturing CMBS loan.
Owned and operated by the borrower since it opened in 1976, The Scottsdale Plaza Resort recently completed a multi-million-dollar three-year renovation that modernized guest rooms and public spaces. Recognized by Trip Advisor with a top 20 ranking and “certificate of excellence” award, the resort features five heated swimming pools, a 24-hour fitness center, 24-hour business center, putting green, walking trails, two lighted tennis courts, full-service salon and spa with infrared sauna, 50,000 square feet of indoor/outdoor event space and multiple food and beverage options, including a breakfast café, Garden Court; JD’s Sports Bar & Lounge located just off the lobby; Café Cabana poolside café and bar; and The Market, which offers gourmet grab-n-go offerings, coffee and smoothies.
Situated on 40 acres at 7200 North Scottsdale Road, the hotel’s Scottsdale location puts it in a popular tourist destination that welcomes more than seven million visitors per year. The Scottsdale Plaza Resort is positioned about 17 miles northeast of downtown Phoenix in a central location three miles from some of the area’s main attractions, including Scottsdale Fashion Square Mall, the leading luxury mall in the Southwest; Old Town Scottsdale, a renowned entertainment and dining district; Scottsdale Waterfront, an upscale mixed-use development; and Camelback Mountain.
The HFF debt and equity placement team representing the borrower included managing director Bryan Clark and senior associate Olga Walsh along with senior managing director Jeremy Womack.
Holliday GP Corp. (“HFF”) is a commercial mortgage broker licensed with the Arizona Department of Financial Institutions, License Number CMB 0935500 and NMLS Number 1524298