Driftwood Capital Provides Mezzanine Financing for Sheraton Dallas Hotel
DALLAS—Driftwood Capital, through its lending fund Driftwood Lending Partners, LP (DLP), provided $30 million in mezzanine financing for the refinancing of the Sheraton Dallas Hotel, a 1,841-key hotel and convention center sponsored by Chartres Lodging Group. The mezzanine financing will accompany a $270 million senior loan originated by Goldman Sachs and JP Morgan Securities. The two-year, floating-rate loan includes three one-year extension options. “As demand for full-service hotels and dynamic meeting spaces elevates, owner/operators continue […]
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