BridgeInvest Closes a $76.25 MM Refinance Loan in Dallas, TX
1st Priority Mortgage Loan
Loan Amount
$76,250,000
Property Type
Hotel
Location
Dallas, TX
BridgeInvest is excited to announce the closing of a $76.25 million senior loan to refinance the 261-key Virgin Hotel in Dallas, TX. This loan provides the Sponsor with an opportunity to capitalize on the strong fundamentals of the hospitality market.
Transaction Highlights:
• Boutique hotel in ramp-up phase
• Class A+ luxury asset
• Loan basis significantly below replacement cost
• Located in the burgeoning Dallas Design District
