Press Release brought to you by PCCP, LLC

PCCP, LLC PROVIDES $30.8 MILLION SENIOR LOAN TO ARDEN GROUP TO REFINANCE DOUBLETREE SUITES PHILADELPHIA WEST

05/06/2016

FOR IMMEDIATE RELEASE

PCCP, LLC PROVIDES $30.8 MILLION SENIOR LOAN TO ARDEN GROUP TO REFINANCE DOUBLETREE SUITES 
PHILADELPHIA WEST

New York, NY, May 6, 2016 – PCCP, LLC announced today it has provided a $30.8 million senior loan 
to Arden Group to refinance DoubleTree Suites Philadelphia West, a full‐service 253‐key hotel 
located 15 miles northwest of Philadelphia in Plymouth Meeting, PA. Located at 640 Fountain Road, 
the hotel is within the Plymouth Meeting Executive Campus office park and is three miles from 
IKEA’s U.S. corporate headquarters.

“PCCP has completed several loans with Arden over the past 18 months – two of which are Florida 
hotels including Tampa InterContinental and Hilton University of Florida, Gainesville,” said John 
Randall, managing director with PCCP. “We are pleased that we once again have the opportunity to 
lend to an experienced owner and operator known for its legacy of successfully adding value to high 
profile properties.”

Randall noted that Plymouth Meeting, an affluent suburb of Philadelphia, is within a highly coveted 
and densely populated location between I‐476 and I‐76 providing convenient access to nearby suburbs 
and the greater Philadelphia area.

Built in 1987 and situated on 7.9 acres, the DoubleTree Suites was recently renovated with upgrades 
to the lobby, restaurant, bar, guest suites, and elevators, as well as other cosmetic upgrades. The 
first floor includes the hotel’s main entrance and lobby, two food and beverage locations, 8,100 
square feet of meeting space in five meeting rooms, fitness center, and indoor swimming pool. The 
guestrooms include 195 king suites, 53 double‐ double suites, and five conference suites. Ample 
guest parking surrounds the hotel, with a total of 364 spaces.

Based in Philadelphia, Arden Group, founded by Craig A. Spencer in 1989, has a successful legacy of 
value‐ add investments that spans 27 years. Arden is a vertically integrated real estate fund 
platform with tenured executives who are experienced in acquisitions, development, repositioning, 
restructuring, property and asset management, operations, and engineering. Arden has vertical 
operating groups in the office, hotel, and high‐rise residential real estate sectors.

About PCCP, LLC: PCCP, LLC is a premier real estate finance and investment management firm focused 
on commercial real estate debt and equity investments. PCCP has approximately $5.5 billion in 
assets under management on behalf of institutional investors. With offices in New York, San 
Francisco and Los Angeles, PCCP has a proven track record for providing real estate owners and 
investors with a broad range of funding options to meet capital requirements. PCCP originates and 
services each of its investments, ensuring that clients benefit from added value and outstanding 
investment returns. Since its inception in 1998, PCCP has successfully raised, invested and managed 
approximately $11 billion of institutional capital through a series of investment vehicles 
including private equity  funds, separate accounts and joint ventures. PCCP continues to seek  
investment opportunities with proven operators seeking fast and reliable capital. Learn more about 
PCCP at  www.pccpllc.com.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


MEDIA CONTACT:
Jessica Spaulding Thompson / Darcie Giacchetto Spaulding Thompson & Associates, Inc.
949‐233‐8575 / 949‐278‐6224 (cell)
jessica@spauldingthompson.com / darcie@spauldingthompson.com

Source

PCCP, LLC

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