Sonnenblick-Eichner Company Arranges $39 Million Interim Leasehold First Mortgage Financing for Moxy Portland Downtown Hotel in Portland, OR
Sonnenblick-Eichner Company | January 13, 2022
Beverly Hills, CA - January 13, 2022 - Sonnenblick-Eichner Company has arranged $39 million of non-recourse interim leasehold first mortgage financing for Moxy Portland Downtown, a 197-room hotel located in the West End District of downtown Portland, OR. The hotel opened in March 2021 and consequently has limited operating history. Proceeds from this financing were used to pay off the construction loan, provide funds for an interest reserve as well as closing costs and fees. The five-year LIBOR-based floating rate loan was sized to approximately 76% of total project costs. The property was developed and is managed by Graves Hospitality...
EJF Capital to Develop Marriott’s New “Moxy” Hotel in Uptown Oakland, CA Opportunity Zone in Partnership With Tidewater and Graves Hospitality
Tidewater Capital | February 21, 2019
ARLINGTON, Va. -- EJF Capital LLC ("EJF"), a global alternative asset management firm, announced today that it has joined Tidewater Capital and Graves Hospitality to develop Marriott International's new Moxy hotel in the Uptown neighborhood of Oakland, California. Uptown Oakland qualifies as an "Opportunity Zone" under the Tax Cuts and Jobs Act of 2017 ("TCJA") and offers investors attractive tax benefits to create economic growth. The planned Moxy hotel, which is slated to open in 2021, consists of 173 rooms and targets millennial travelers who are increasingly drawn to Oakland's energetic urban environment. EJF Co-Founder and Chief Op...
Graves Hospitality | January 31, 2018
The dynamic Uptown neighborhood of Minneapolis welcomed its first hotel in decades this week, Marriott International's playful Moxy Minneapolis Uptown. Owned by Minneapolis-based Graves Hospitality, the six-story, 125-bedroom hotel, situated on the corner of Lake Street and Emerson Avenue, fully embraces modern fun-hunting travelers with its spirit, style and affordable price point. "At Moxy, we believe in the transformative power of play, and we're excited to bring this vibrant spirit to Minneapolis Uptown as we invite our guests to come play with us," said Vicki Poulos, Senior Global Brand Director, Moxy Hotels. "Designed for both the...
IHG and Graves Hospitality Reach Construction Milestone at InterContinental Hotel Coming to Minneapolis-St. Paul International Airport
IHG | May 2, 2017
291-room hotel will connect directly to MSP Airport's Lindbergh Terminal via enclosed sky bridge InterContinental Hotels Group (IHG), one of the world's leading hotel companies, today announces a milestone in the construction of a new InterContinental® Hotels & Resorts property at the Minneapolis-St. Paul Airport. The project, made possible by a partnership led by Graves Hospitality and Intercontinental Real Estate Corporation, a Boston-based real estate investment firm, broke ground in October 2016, and the concrete foundation was recently completed. The hotel is on track to open summer of 2018. Joel Eisemann, Chief Develop...
Graves Hospitality Opens DoubleTree by Hilton Racine Harbourwalk Following Multimillion Dollar Renovation
DoubleTree by Hilton | October 3, 2016
RACINE, Wis. and MCLEAN, Va. – October 3, 2016 – DoubleTree by Hilton, one of Hilton's (NYSE: HLT) 13 market-leading brands, today opens DoubleTree by Hilton Racine Harbourwalk, following a one-year, multimillion dollar renovation of a former, independently-branded, hotel property. The completely-renovated, upscale hotel is owned and managed by Graves Hospitality which is headquartered in Minneapolis, MN. "DoubleTree by Hilton hotels are known for consistently providing guests with a warm welcome and impeccable service, every day," said Dianna Vaughan, senior vice president and global head, DoubleTree by Hilton. "As we open ...
Graves Hospitality | May 29, 2014
May 29, 2014 - MINNEAPOLIS - Graves Hospitality (GH) today announced the sale of the Graves 601 Hotel located in downtown Minneapolis. The transaction is a strategic move by the nearly 40-year old development and management company, allowing for a redeployment of capital into higher growth assets of its vast portfolio and opening up lucrative reinvestment opportunities. The sale results from an off-market, unsolicited offer by Loews Hotels & Resorts, a national chain that desired a signature, full-service Midwest property. The acquisition is expected to close in July of 2014. "We've always maintained a clear eye on the future and an...
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