St. Louis, MO
Hotel - Renovation
ACRES Capital, LLC (“ACRES”) is pleased to announce the funding of a bridge loan to refinance/reflag and renovate an existing 288-key, hotel located in the downtown/central business district of St. Louis, Missouri. This upscale hotel will be flagged with of one of the nation’s preeminent hotel brands. The brand is a modern designed, affordable boutique style hotel focusing on the millennial traveler with urban designs and welcoming communal spaces/café atmosphere. It operates in eight markets including New York City, New York; Washington, DC; Omaha, Nebraska; Spokane, Washington; and Salt Lake City, Utah.
“This hotel sits in the heart of St. Louis, directly across the street from the Scottrade Arena and blocks away from Busch Stadium. We are excited to team up with a deeply experienced Sponsor who recognizes the significant upside potential in bringing a new flag to the St. Louis market to complement an extensive renovation of the Property,” according to Mark Fogel, President and CEO of ACRES.
ABOUT ACRES CAPITAL
ACRES Capital is a direct lender operating on a nationwide platform. The company seeks opportunities in the $4 million to $50 million range on stabilized or distressed properties including Multifamily, Retail, Office, Hospitality, Industrial and New Construction. For more information please visit www.acrescap.com.