$400,000,000 in New Financing
|Grand Sierra Resort
The $300,000,000 Grand Sierra Resort in Reno, Nevada, is the largest condo-hotel conversion in the United States. 825 rooms of the 1995 room / 27-story tower are being converted into luxury hotel condominiums.
This initial phase will also include a renovation of all of the public areas, the casino, the 27-story hotel tower, and exterior amenities. Future plans include the development of the nation's largest water park and several condominium towers. One of the unusual aspects was that we did a bond offering rather than a conventional mortgage.
We also acted as the financial advisor on the acquisition and financing of the 11 property Phoenix Inn portfolio located in the Pacific Northwest. The Phoenix Inns are a series of limited service all-suite hotels totaling 1057 rooms.
Steven H. Gold
|Also See:||Hotel Financial Strategies Finances NumerousProjects Totaling $175,000,000 / September 2005|
|Hotel Financial Strategies Closes Seven Hotel Loans Totaling $109,000,000.00 / April 2005|
|Hotel Financial Strategies Arranges $41.5 Million Financing for Westin Hotel / October 2004|
|The Hotel Financial Consortium of Companies Expands with the Affiliation of Five Companies in Strategic Locations / September 2004|
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