Finance Deals of the Week: Morgan Stanley Leads $460M Arizona Hotel Loan
The top five financings from May 20 to May 24
By The Editors May 24, 2024 6:00 am
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The end of May saw a surge in large commercial real estate financings, highlighted by a $460 million acquisition loan led by Morgan Stanley (MS) for the joint venture of Henderson Park and Pyramid Global Hospitality to purchase the 39-acre Arizona Biltmore hotel and resort in Phoenix from Blackstone Real Estate for $705 million. Wells Fargo (WFC) also spearheaded a notable transaction with a $200.5 million refinancing of Gotham Organization’s 55 Suffolk Street multifamily property. Here are the rest of the deals.
| Loan Amount | Lender | Borrower | Address | Property Type | Broker |
|---|---|---|---|---|---|
| $460 million | Morgan Stanley, JP Morgan and Deutsche Bank Finance | Henderson Park and Pyramid Global Hospitality | Arizona Biltmore hotel in in Phoenix | Hospitality | Eastdil Secured and Jones Day |
| $201 million | Wells Fargo | Gotham Organization | 55 Suffolk Street in Lower Manhattan | Multifamily | N.A. |
| $93 million | Bank OZK | Matrix Development Group | Matrix Logistics Park in Mount Olive, N.J. | Industrial | JLL's Thomas Didio, Jim Cadranell, Thomas E. Didio Jr., Michael Lachs and Olivia Doody |
| $82 million | Goldman Sachs | Sunroad Enterprises | Sunroad Centrum I in San Diego | Office | JLL's Aldon Cole, Tim Wright and Bharat Madan |
| $79 million | BGO | Tidal Real Estate Partners | 111 Ann Street in Savannah, Ga. | Multifamily | Walker & Dunlop's Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Michael Ianno and Christopher de Raet. |
Finance Deals of the Week reflect deals closed or announced from May 20 to May 24. Information on financings can be sent to editorial@commercialobserver.com.
Aaron Appel, Adam Schwartz, Aldon Cole, Bharat Madan, Christopher de Raet, Deals of the Week, Jim Cadranell, Jonathan Schwartz, Keith Kurland, Michael Ianno, Michael Lachs, Olivia Doody, Thomas Didio, Thomas E. Didio Jr., Tim Wright, Eastdil Secured, Jones Day, Morgan Stanley, Walker & Dunlop, Wells Fargo
