RobertDouglas Secures Financing for Chartwell Hospitality’s Residence Inn & Courtyard Kansas City Downtown Convention Center
As exclusive advisor, RobertDouglas announced today that it successfully refinanced Chartwell Hospitality and Soundview Real Estate Partners’ dual-branded Residence Inn & Courtyard Kansas City Downtown Convention Center in Kansas City, MO. RobertDouglas secured roughly $36,000,0000 of fixed-rate debt with highly attractive pricing from a balance sheet lender. The loan carries a 3-year term with open pre-payment after an initial 12-month lockout.
RobertDouglas Secures Financing for Chartwell Hospitality
Photo by RobertDouglas
Nashville – As exclusive advisor, RobertDouglas announced today that it successfully refinanced Chartwell Hospitality and Soundview Real Estate Partners’ dual-branded Residence Inn & Courtyard Kansas City Downtown Convention Center in Kansas City, MO. RobertDouglas secured roughly $36,000,0000 of fixed-rate debt with highly attractive pricing from a balance sheet lender. The loan carries a 3-year term with open pre-payment after an initial 12-month lockout.
"This financing is representative of transactions that can be struck in the current lending environment for excellent properties with strong cash flow. This type of structure also provides reasonable flexibility for the borrower, as it can refinance after a year, depending on the interest rate environment at that time." - RobertDouglas Principal and Managing Director Evan Hurd.
The Courtyard and Residence Inn Kansas City Downtown/Convention Center, at 1535 Baltimore Avenue, Kansas City, MO, is a new dual branded hotel in Kansas City and is within walking distance of the Kansas City Convention Center, Power & Light District, Sprint Center and Kauffman Center for the Performing Arts. This is the only hotel located on the Kansas City Streetcar line and, also, the only hotel located in both downtown and the Crossroads District. The mixed-use development features 3,068 SF of meeting space, a 163-space parking garage, and 5,300 SF of leased retail space currently occupied by Streetcar Grille & Tavern.
"With 261 total keys between the Residence Inn and Courtyard, this outstanding dual-branded Hotel sits in the bullseye of $9 billion in recent investment and development. Kansas City’s hotel market has always punched above its weight class and serves as a critical regional hub for the Midwest, with strong economic drivers that include education, manufacturing, professional sports and the federal government." - RobertDouglas Principal and Managing Director Matt Dower.
About RobertDouglas
RobertDouglas is a real estate investment banking firm with offices in New York, Los Angeles, San Francisco, Chicago, and Nashville that specializes in the sale, financing, and equity capitalization of hotel, resort, and gaming properties throughout North America. Founded in January 2013 and currently led by its four partners, Rob Stiles, Doug Hercher, Stephen O'Connor, and Evan Hurd, RobertDouglas offers access to exceptional domestic and international institutional investor and lender relationships as it combines the capital markets sophistication of top-tier investment banks with diligent hotel underwriting and proven asset management experience.
For more information, contact info@robert‐douglas.com or go to www.robert-douglas.com.
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