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.
