HALL Structured Finance Provides $19.1M Loan for Residence Inn Hotel

HALL Structured Finance (HSF) has provided a $19.1 million bridge loan for the development of the Residence Inn by Marriott Phoenix Mesa East, a 127-suite hotel project in East Mesa, Arizona. The hotel owner is Tucson-based Khangura Development.

“We are happy to select HSF as a partner for our hotel project in East Mesa, Arizona,” said President of Khangura Development, Suky Khangura. “Their flexibility and understanding of our project allowed for a successful initial partnership, which prompted us to work with them again for the recent bridge loan.”

The hotel features rooms with fully equipped kitchens, a dining and living room area, and dedicated workspace. The property was recently constructed and is adjacent to the Mountain Vista Medical Center with easy access to the cities of Mesa, Tempe, and Scottsdale.