SAN ANTONIO — Aries Capital's Urban Development Fund (UDF) has provided $21.5 million in financing for the development of the new Embassy Suites Riverwalk in San Antonio. The hotel will be located on Houston Street along the San Antonio Riverwalk. It will total 16 floors and 285 rooms. Amenities will include a 7,500-square-foot ballroom, a 7,000-square-foot grand atrium and two levels of below-ground parking. The new Embassy Suites is set to anchor the redevelopment of the Houston Street area. UDF's financing package consists of a $17 million senior loan, a $2.25 million junior loan and a $2.25 million equity investment. The investment also includes an allocation of New Market Tax Credits. The borrower's name was not disclosed.