$14.4 million financing for Hilton Garden Inn El Paso / University secured by HFF
CHICAGO, IL – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $14.4 million in first mortgage financing for Hilton Garden Inn El Paso / University, a 153-room, full-service hotel in El Paso, Texas.
HFF worked on behalf of the borrower, TVO Groupe, to place the 10-year, fixed-rate loan with the Chicago office of CCRE. Loan proceeds will be used to refinance existing debt and fund future property improvement plans.
Completed by the borrower in 2006, the five-story Hilton Garden Inn El Paso / University features an outdoor pool, fitness center, business center, 3,696 square feet of meeting space and a full-service restaurant with lounge. The hotel is located at 111 West University Avenue adjacent to the University of Texas at El Paso, a four-year university with an enrollment exceeding 23,000 students. The property is four miles northwest of downtown El Paso along Interstate 10 and 10 miles from Fort Bliss, the fastest-growing U.S. Army installation in the country. Additionally, the Judson F. Williams Convention Center is two miles from the hotel.
The HFF debt placement team representing the borrower was led by associate directors Jason Bond and Michael Cosby.
About TVO Groupe
TVO Groupe is a vertically integrated international real estate investment and property services group through which its operating affiliates provide a platform of opportunities and services to its partners, investors, clients and occupiers in North America and Europe. TVO Groupe is commonly referred to as the “umbrella organization” managing and overseeing all TVO affiliates and their respective activities, both domestically and internationally. Learn more at www.tvogroupe.com.
CCRE is a fully-integrated commercial real estate finance company providing innovative financing solutions to the real estate capital markets. CCRE originates competitively underwritten fixed- and floating-rate mortgages and mezzanine loans secured by diverse asset types in most major U.S. markets. CCRE is capitalized by strong institutional sponsorship including affiliates of CIM Group and Cantor Fitzgerald, L.P., and is led by an experienced team of real estate professionals with extensive track records originating, structuring, managing and distributing commercial real estate loans in various economic cycles. For more information, visit www.ccre.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.