{"id":1004300744,"date":"2019-02-19T05:40:26","date_gmt":"2019-02-19T13:40:26","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004300744"},"modified":"2019-03-26T04:25:42","modified_gmt":"2019-03-26T12:25:42","slug":"marriott-secures-40m-loan-for-tucson-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/marriott-secures-40m-loan-for-tucson-asset\/","title":{"rendered":"Marriott Secures $40M Loan for Tucson Asset"},"content":{"rendered":"
\"\"<\/a>

AC Marriott Tucson<\/p><\/div>\n

A recently built Marriott-branded hotel in downtown Tucson, Ariz., has received $40 million in financing. AC Marriott, developed by Tucson Urban, is a 136-key hotel that was completed in 2017 and is the first to be built in the downtown area since the 1970s.<\/p>\n

The 10-year loan was structured with an attractive interest rate and three years of interest-only payments, according to Walker & Dunlop, the firm that arranged the financing. A Walker & Dunlop team including Jim Pierson, Keaton Merrell, Alison Williams and Matt Baldwin originated the loan from a CMBS provider, on behalf of Tucson Urban.<\/p>\n

“Despite the volatility in the CMBS market during the last two months of 2018, Walker & Dunlop delivered exceptional attention to our loan, our needs, and our timing,\u201d <\/em>said Scott Stiteler, managing partner of Tucson Urban, in prepared remarks.<\/p>\n

The modern eight-story property offers guests amenities including a fitness center, a rooftop pool and free Wi-Fi. Located at 151 E. Broadway Blvd., the hotel is in the heart of downtown and within walking distance from a variety of shopping, dining and cultural offerings.<\/p>\n

Another AC Marriott hotel is being developed<\/a> in downtown Phoenix at Arizona Center, a 1 million-square-foot mixed-use project.  <\/p>\n

Image courtesy of Walker & Dunlop<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The 136-key AC Marriott is the first hotel to be built in the city’s downtown since the early 1970s. Walker & Dunlop arranged the financing.<\/p>\n","protected":false},"author":745,"featured_media":1004300747,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21751,21742,15],"tags":[33877,34573],"class_list":["post-1004300744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-hotel","category-latest","category-west","tag-marriott","tag-walker-and-dunlop"],"acf":[],"yoast_head":"\nMarriott Secures $40M Loan for Tucson Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/marriott-secures-40m-loan-for-tucson-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marriott Secures $40M Loan for Tucson Asset\" \/>\n<meta property=\"og:description\" content=\"The 136-key AC Marriott is the first hotel to be built in the city's downtown since the early 1970s. 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