Columbia Sussex Corporation has secured $70 million of floating-rate financing for the acquisition of the Hyatt Regency Denver Tech Center, a 451-room full-service hotel located in Denver, Colorado.
Natixis Real Estate Capital provided a $56 million senior loan while Square Mile Capital provided a $14 million mezzanine loan, which helps fund the purchase as well as a property improvement plan. The hotel is located four blocks from the Belleview Light Rail Station and the employers throughout the Denver Tech Center.
Natixis has been extremely active in recent months. In September alone the lender provided $750 million in construction financing to Gary Barnett’s Extell Development for the development of One Manhattan Square in Manhattan’s Lower East Side neighborhood; and co-led with Wells Fargo Bank the $197 million financing for the construction of a mixed-use project in the Williamsburg neighborhood of Brooklyn. Also in September, Natixis provided a $48.5 million loan to Chetrit Group and JDS Development Group on a 6.2-acre river-front development in Miami, Florida.
In August the firm provided a $59.5 million, fixed-rate CMBS loan to Diamond Properties for the refinance of The Park at Mount Kisco in Mount Kisco, New York, about 40 miles north of Midtown Manhattan in Westchester County; and in May, along with Oaktree Real Estate Finance, Natixis provided $335 million in financing for Cindat Capital Management Limited’s acquisition of a majority stake in seven Manhattan hotel properties.
The Colorado deal was arranged by Rob Rubano of Eastdil Secured.