Deal of the Week: DoubleTree by Hilton in Tucson, Arizona

Image: Arriba Capital
This was a refinance of a leasehold interest governed by a Government Property Lease Excise Tax (GPLET) structure, which provides 21 years of property tax abatement. That created complexity during underwriting but also presented a compelling economic story. The borrower also received cash-out proceeds, and the structure included a tailored seasonality reserve that allowed summer draws to be funded in installments instead of upfront.

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  Miami, Florida

November 7-8, 2023

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