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12

Phoenix Ritz-Carlton Hotel and Residences Lands $282M

By Tony Seruga

HFF arranged a $210 million senior land and construction loan with Bank of the Ozarks, as well as $72 million in mezzanine financing with Starwood Property Trust Inc.

Five Star Development secured $282 million in senior and mezzanine construction financing for the next stage of its Ritz-Carlton Hotel and Residences in Paradise Valley, Ariz., which is currently under construction.

HFF arranged $210 million in senior land and construction loan facilities with Bank of the Ozarks as well as $72 million mezzanine financing with Starwood Property Trust Inc. Loan proceeds will be used to refinance an existing land loan and construct the project…

Phoenix Ritz-Carlton Hotel and Residences Lands $282M

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