FRISCO, TX - Mike Jaynes, president of Hall Structured Finance, announced today that the company has provided $43,000,000 to NP Platinum Hotel, LLC to facilitate the construction of a 253-key Hilton Hotel in Columbus, Ohio.
Located in the high-growth submarket of Polaris, the project will be a four-star, full-service Hilton Hotel with conference center. Named Hilton at Polaris, the hotel will be the only full-service hotel in the submarket and the only one fulfilling a growing need for conference facilities. Polaris is also home to the new high-end retail center, Polaris Fashion Mall, serving the submarket’s strong, favorable demographics.
“We are comfortable with the product, the submarket and the principals in this transaction,” said Jaynes. “The hotel as designed will be a great addition to the Polaris area and we believe strongly that the expertise of NP Platinum Hotel, LLC and its affiliates in the Columbus, Ohio market will help make this project a great success.”
Mike Jaynes negotiated the transaction on behalf of Hall Structured Finance with Jo Bursey arranging financing on behalf of NP Platinum Hotel, LLC.
“With Hilton at Polaris being the first full-service major hotel in the submarket, we needed a lender with vision and experience with emerging growth markets,” said Matt Studer, a principal with NP Platinum Hotel, LLC. “Hall Structured Finance has extensive real estate experience, especially with emerging growth markets.”
Principals of NP Platinum Hotel, LLC and its affiliates have extensive real estate ownership and development experience including six other hotel projects in the Columbus area and others around the country. Current projects under construction include a Marriott in Merimack, New Hampshire; a Hampton Inn & Suites in Lakeland, Florida; and Marriott Fairfield in Sanford, Florida.
ABOUT HALL STRUCTURED FINANCE
Hall Structured Finance specializes in pursuing real estate and other investments typically bypassed by others. It targets undervalued assets where it can add value and facilitate completion. Hall Structured Finance, a member of the Hall Financial Group family of companies, has recently provided first lien, mezzanine and preferred equity financing for hotels, multifamily projects, condominiums and land. It also provides DIP financing for entities restructuring in bankruptcy and other special situation financing. For more information, visit www.hallstructuredfinance.com.
ABOUT HALL FINANCIAL GROUP
Founded in 1968, Hall Financial Group is owned by Craig Hall and family. Diversified holdings include active operations in commercial real estate development, ownership and management; software application development; structured finance lending for real estate and other areas; vineyards and wineries; and oil and gas. For more information, visit www.hallfinancial.com.
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