In separate transactions, Los Angeles-based has funded two loans totaling $84 million in nonrecourse first-mortgage debt for the acquisition of the and the refinancing of the
Mesa West said it provided a joint venture led by JMI Realty with a $42 million loan for the acquisition of the Hyatt Regency Denver Tech Center from Hyatt Hotels Corp. in a transaction valued at about $60 million.
The hotel will continue to operate under the Hyatt flag under a long-term franchise agreement and will be managed by Davidson Hotels and Resorts.
“The Hyatt Tech Center is considered the highest quality asset in the submarket and is well-positioned to capitalize on the recovering Tech Center office market which has been posting sold net absorption and a decline in vacancy rates over the past 24 months,” said Mesa West principal Ronnie Gul, who originated the financing.
In the unrelated transaction, Mesa West provided Walton Street Capital with a $42 million loan to recapitalize the Park Hyatt Beaver Creek Resort and Spa near Vail.
Walton Street acquired the Park Hyatt Beaver Creek in 2007 as part of a six-property portfolio that included assets in California, Colorado and Texas.
The new ownership completed a multimillion-dollar renovation.
“Ownership is continually improving what is already a world-class property in the internationally recognized leisure market of Vail,” said Gul in a statement. Gul originated the financing in the Park Hyatt Beaver Creek deal as well.
Howard Pankratz: 303-954-1939, hpankratz@denverpost.com or twitter.com/howardpankratz
