Walker & Dunlop Structures $40M in Financing for 136-Key AC Marriott in Tucson, Arizona

by Jeff Shaw

TUCSON, ARIZ. — Walker & Dunlop has structured $40 million in financing for the AC Hotel by Marriott Tucson Downtown, located at 151 E. Broadway Blvd. in Tucson. The borrower is Tucson Urban.

Completed in fall 2017, the eight-story hotel features 136 guest rooms and was the first hotel built in downtown Tucson since the early 1970s, according to Walker & Dunlop. Hotel amenities include a fitness center, rooftop pool and 1,847 square feet of meeting space.

Jim Pierson and Keaton Merrell of Walker & Dunlop’s Phoenix office, in collaboration with Alison Williams and Matt Baldwin of Walker & Dunlop’s Tampa, Fla., office, arranged the 10-year cash-out loan, which features three years of interest-only payments, through a CMBS provider.

You may also like