March 12, 2020
JLL Capital Markets arranged a $12.3-million refinancing for Moxy Minneapolis Uptown, a 125-room Marriott-branded boutique hotel in the Uptown submarket of Minneapolis.
JLL worked on behalf of the borrower, Graves Hospitality, to place the five-year, fixed-rate loan with a flexible pre-payment structure with a newly formed debt fund. Loan proceeds were used to refinance the original construction loan.
Moxy Minneapolis Uptown was completed in 2018 and is the first ground-up, purpose-built Moxy in the Americas. The property is nearby Fortune 500 offices and top leisure demand generators, including Target Field, Target Center, U.S. Bank Stadium and Orchestra Hall.
The JLL Capital Markets team was led by executive managing director Gerard Sansosti, EVP Jeff Bucaro and VP Nicole Aguiar.
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