REBusinessOnline

Hall Structured Finance Provides $86.5M Construction Loan for Westin Tempe in Arizona

Westin-Tempe-AZ

Slated to open in second-quarter 2021, the Westin Tempe in Tempe, Ariz., will feature 290 guest rooms and a rooftop infinity pool with poolside bar.

TEMPE, ARIZ. — Dallas-based Hall Structured Finance (HSF) has funded a new first-lien loan totaling $86.5 million to finance the construction of the full-service Westin Tempe hotel, located at 11 E. Seventh St. in Tempe. The borrower, Las Vegas-based CAI Investments, is developing the project.

Construction began in March, with completion slated for second-quarter 2021. The 18-story hotel will feature 290 guest rooms, a rooftop infinity pool, poolside bar, fitness center, full-service restaurant and bar, business center, Starbucks Coffee and more than 10,000 square feet of meeting space.

Aden Kuh of Silver Ridge Partners sourced the financing for the project.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.



Related News

Conferences