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  • $42,840,000

$42,840,000

Robb capital, LLC secures $42.84 million financing for le Meridien Dallas by the galleria

Date: on February 8th, 2019, Robb Capital, LLC proudly announced the triumphant arrangement of a substantial $42,840,000 financing package for the prestigious le Meridien Dallas by the galleria.

Property overview:

  • Property Name: Le Meridien Dallas by the galleria is a luxurious all-suite hotel, known for its elegance and prestige.
  • Suite Collection: the hotel boasts a collection of 258 lavish suites, offering an unparalleled experience to its guests.
  • Prime Location: situated in the heart of north Texas’ premier shopping district, the hotel is a true gem, just steps away from the renowned galleria Dallas mall, art galleries, museums, vibrant restaurant districts, and an abundance of shopping and entertainment options.

Key loan details:

  • Loan Amount: the financing package secures an impressive $42,840,000, a significant investment in this prestigious property.
  • Highly Competitive Spread: this financing package is designed with a highly competitive spread, ensuring favorable and advantageous terms for the borrower.
  • Extended Amortization: the financing package features a generous 30-year amortization period, surpassing the industry-standard 25 years typically associated with CMBS loans. This extended period enhances the property’s long-term financial sustainability.
  • Term: a 10-year term accompanies the financing, offering a favorable timeline for the borrower, aligning with their goals and objectives.
  • Type of Program: a CMBS fixed rate program is utilized to secure stability in the financing structure, providing the borrower with predictability and reliability.
  • Loan to Value (LTV): the financing boasts an LTV of 70%, surpassing the industry-standard maximum of 65% typically associated with properties in Dallas. This provides the borrower with added flexibility and leverage.
  • Total Rooms: Le Meridien Dallas by the galleria comprises a grand total of 258 suites, reinforcing its position as a premier destination for hospitality in north Texas.
  • Address: the hotel’s location is at 13402 Noel Rd, Dallas, TX 75240, ensuring easy accessibility for guests and visitors.

Robb capital, LLC takes immense pride in playing a pivotal role in facilitating this successful financing arrangement for le Meridien Dallas by the galleria. This accomplishment contributes significantly to the hotel’s ongoing success and prominence in the north Texas hospitality landscape, further solidifying its position as a beacon of luxury and elegance in the region.