Hodges Ward Elliott Completes $55 Million Financing for Denver Ritz-Carlton (United States)
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Hodges Ward Elliott Completes $55 Million Financing for Denver Ritz-Carlton (United States)
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Category: North America & West Indies / Carribean islands - United States
This is a press release selected by our editorial committee and published online for free on 2008-10-03
Hodges Ward Elliott (HWE), the nation’s premier hotel brokerage and investment banking firm, today announced completion of a $55 million mortgage loan for the Ritz-Carlton Denver, a 202-room luxury hotel. HWE represented the owner, CJS Hotel, LLC, in the transaction.
“Despite the recent turmoil in the market, financing for upscale and luxury hotels remains available,” said Mark Elliott, principal of Hodges Ward Elliott. “Current economic concerns dictate that new financing will require more expertise and creativity to bring these loans to completion. We have more than two decades of financing experience and expect to continue to be a major player in this segment in the coming months, especially when the current logjam in transactions begins to resolve itself.”
Located at 1881 Curtis Street in downtown Denver, the Ritz-Carlton boasts the largest number of guest rooms in the city. The hotel’s signature restaurant, Elway’s, named for Denver Bronco quarterback and NFL Hall of Fame inductee John Elway, offers an exceptional food and wine experience and is popular with both locals and hotel guests. In addition, the hotel has 13,000 square feet of flexible meeting space.
Founded in 1975, HWE is the world’s leading hotel brokerage and investment firm, completing more than $20 billion in hospitality real estate and investment banking transactions over the past 11 years. The company provides brokerage and investment banking services through four divisions: the HWE Full-Service/Luxury Hotel and Resort Division, which concentrates on assets valued at greater than $10 million; the International Division, which provides hospitality real estate services through its London office, the Focused-Service Division, which concentrates on hospitality transactions up to $10 million and the Golf Division.
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