Aries Conlon Capital is pleased to announce that Principal and CEO Rushi Shah and Associate Suraj Desai have arranged an $8.875 million, non-recourse bridge loan for the refinance and conversion of a select-service hotel at 200 N. Admiral Byrd Road near Salt Lake City’s International Airport to a full-service Four Points by Sheraton Marriott hotel. The two-year, interest-only loan includes an option to extend one additional year and was secured on behalf of Boise, Idaho-based TNB Hotels.
Aries/Conlon Capital is pleased to announce that the firm has arranged a $13.7 million bridge loan to finance the purchase of a note for The Seasons at Tucson www.seasonsattucson.com. The 500-bed student apartment community is located at 811 E. Wetmore Road in Tucson, Arizona, just off the campuses of both The University of Arizona and Pima Community College. Aries/Conlon Capital Principal and COO Tom Reckley arranged the financing on behalf of the Chicago-based borrowers, Brett Pezzuto and Christian Pezzuto.
Aries/Conlon Capital has arranged a $3.4 million non-recourse bridge loan for the refinance of the Golf Higgins Center strip mall in Hoffman Estates, Illinois on behalf of the property’s owner, Jagmohan Jayara. In the process, the firm also helped to secure the village’s first Ace Hardware store as the property’s anchor.
Aries/Conlon Capital has arranged a $31.5 million five-year, floating rate loan on behalf of Accesso Partners, LLC to refinance Riverwalk Phase II located at 2100 E. Lake Cook Road in Buffalo Grove, Illinois. The Class A 258,995 square foot office building serves as the corporate headquarters for majority tenant CVS Caremark.
Aries/Conlon Capital has arranged six hotel refinancing transactions totaling more than $40 million for limited service hotels in Florida, Arkansas, Texas, Kentucky and Ohio.
Aries/Conlon Capital has arranged a 10-year, fixed rate CMBS permanent loan in the amount of $7.25 million on behalf of Pandey Hotel Corporation to refinance the Four Points by Sheraton located at 600 Cumberland Avenue in West Lafayette, Indiana. The loan features a high loan-to-value and a 25-year amortization. Aries/Conlon Capital CEO Rushi Shah originated the deal.