HFF closes $282M in financing for Ritz-Carlton development in Paradise Valley

A rendering of the future Paradise Valley Ritz-Carlton.

Disclosure: Rose Law Group represents Shea Homes, Azure

AZRE

Holliday Fenoglio Fowler, L.P. (HFF) announces the closing of $282 million in senior and mezzanine construction financing for the next stage of development of The Ritz-Carlton hotel and residences in Paradise Valley that is currently under construction. 

The HFF team worked on behalf of the developer, Five Star Development (Five Star), to place the $210 million senior land and construction loan facilities with Bank of the Ozarks, and the $72 million mezzanine financing with Starwood Property Trust, Inc.  Loan proceeds will be used to refinance an existing land loan and construct The Ritz-Carlton hotel and residences.

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