HFF has secured a refinancing for Chase Park Plaza Hotel, a AAA-rated Four-Diamond 338-key hotel in the Central West End area of St. Louis.
Working on behalf of the borrower, an affiliate of Behringer Harvard Opportunity REIT I, Inc., HFF placed the three-year, fixed-rate loan through American Real Estate Capital. Proceeds from the financing will be used to replace existing financing and complete multiple upgrades to the hotel.
Overlooking St. Louis’ Forest Park, the Chase Park Plaza Hotel is located on 4.31 acres in St. Louis’ Central West End neighborhood at 232 N. Kingshighway Blvd., four miles west of downtown.
The eleven-story hotel has hosted every U.S. president from the 1920s to the 1990s in addition to kings, queens, rock and opera stars, actors and professional athletes. Bob Hope, Frank Sinatra, Dean Martin, Jerry Lewis and more performed at the hotel’s Chase Club. Built in 1929, the hotel has gone through several upgrades and today contains four restaurants, approximately 50,000 square feet of grand banquet halls and meeting rooms, a five-screen movie theater, outdoor swimming pool, health club, office space, salon and spa and 36,000 square feet of retail shops.
The HFF debt placement team representing the borrower was led by senior managing director Trey Morsbach and associate director Michael Cosby.