Canyon Partners Refis University of Florida Hilton with $37 million loan – Business Observer
Arden Group landed a $37 million debt package to refinance a Hilton-branded hotel asset on the University of Florida campus, Commercial Observer may report first.
Canyon Real Estate Partners provided the loan on key 248 from Arden Hilton University of Florida Conference Center Gainesville property. The full-service hotel contains 25,000 square feet of meeting space that accommodates traveling sports teams, college conferences, and group events.
Newmark arranged the financing with a team led by Dustin Stolly and Jordan Roschlaub next to Chris Kramer, Nick Scribani, Tyler Dumont, Dan Morin and Andrew Harwood.
Located on the west side of the university campus at 1714 SW 34th Streetthe hotel underwent a major renovation in 2016. The property has added new dining options in recent years, including Shula Steakhouse and unnamed living room.
Officials at Canyon Partners and Arden Group did not immediately return requests for comment.
Los Angeles-based Canyon closes $650 million investment vehicle in May 2021 to target senior and subordinated debt investments in major US markets. Founded in 1991, the branch of direct investment in the real estate of Canyon Partners has over $27 billion in assets under management.
Philadelphia-based Arden Group has acquired approximately $6 billion in properties and managed more than $11 billion in commercial real estate assets since its founding in 1989. The company expanded its industrial holdings last year with an acquisition of $42.5 million. ready of black rock to buy a portfolio of 12 last-mile properties in Arlington, Texas.
Andrew Coen can be reached at [email protected].