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Article: HFF Secures $120 Million Recap for W Hotel & Residences in Austin.
- Article from:
- Investment Weekly News
- Article date:
- November 21, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced that it arranged a $120 million recapitalization for the W Hotel & Residences, a luxury mixed-use project under construction in Austin, Texas.
Working on behalf of Stratus Properties, Inc. and the Canyon-Johnson Urban Fund, HFF senior managing director Whitaker Johnson placed a new five-year construction loan originated by CLG Hedge Fund, LLC, a hedge fund affiliated with Beal Bank Nevada. This loan is replacing an original $165 million construction financing through Corus Bank that HFF secured on behalf of the borrowers in 2008. As part of the recapitalization, Stratus and Canyon-Johnson are ...
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