Canyon Partners Refis University of Florida Hilton with $37M Loan
Arden Group has landed a $37 million debt package to refinance a Hilton-branded hotel asset on the University of Florida campus, Commercial Observer can first report.
Canyon Partners Real Estate supplied the loan on Arden’s 248-key Hilton University of Florida Conference Center Gainesville property. The full-service hotel contains 25,000 square feet of meeting space that caters to traveling athletic teams, University conferences and group events.
Newmark arranged the financing with a team led by Dustin Stolly and Jordan Roeschlaub alongside Chris Kramer, Nick Scribani, Tyler Dumon, Dan Morin and Andrew Harwood.
Located on the west side of the university campus at 1714 SW 34th Street, the hotel underwent a substantial renovation in 2016. The property has added new dining options in recent years including Shula’s Steak House and No Name Lounge.
Officials for Canyon Partners and Arden Group did not immediately return requests for comment.
Los Angeles-based Canyon closed a $650 million investment vehicle in May 2021 to target senior and subordinated debt investments in the top U.S. markets. Founded in 1991, the real estate direct-investing arm of Canyon Partners has over $27 billion in assets under management.
Philadelphia-based Arden Group has acquired roughly $6 billion of properties and managed in excess of $11 billion of commercial real estate assets since its founding in 1989. The firm expanded its industrial holdings last year with a $42.5 million acquisition loan from BlackRock to purchase a 12-building last-mile portfolio in Arlington, Texas.
Andrew Coen can be reached at email@example.com.