NEW YORK—The LCP Group, L.P. introduced the closure of an $85 million refinance for the Brown Palace Lodge and Spa, Autograph Assortment, and the Vacation Inn Specific Denver Downtown, positioned in Denver, Colorado.
The $85 million refinancing bundle for Crescent Actual Property, facilitated by LCP, features a senior mortgage from Profit Avenue Companions and a mezz mortgage from a partnership between LCP and Ares Administration.
“Amidst right now’s advanced capital markets panorama, LCP’s achievements in managing advanced transactions function a testomony to our proficiency in tailoring personalized monetary methods for best-in-class resort sponsors like Crescent Actual Property,” mentioned Francis Energetic, CEO and president of The LCP Group. “Our method is additional strengthened by our strong partnerships and our deep-rooted information of the hospitality business.”
“Moreover, we’re enthusiastic about our partnership with Ares Administration, a vital milestone in our improvement, and we sit up for future joint ventures with them. This enterprise additionally represents our continued partnership with Profit Avenue Companions, serving as soon as once more because the senior lender.”
Located in Downtown Denver, the 474-key Brown Palace Lodge Complicated has a location with entry to demand hubs, together with the CBD, River North Arts, and Decrease Downtown districts. The Brown Palace additionally has a historical past of over 130 years.
