Dealmaker: Hall Structured Finance Originates $67M in Hotel Construction Financing

(Illustration courtesy of Jackson-Shaw)

Hall Structured Finance, Dallas, originated a $67 million construction loan to develop a dual-branded AC Hotel by Marriott Symphony Park and Element by Westin Symphony Park in Las Vegas.

The groundbreaking is set for January 2024 with opening slated for late 2025. The developer is Dallas-based Jackson-Shaw.

“HSF prioritizes the importance of collaborating with strong brands like Marriott and Westin,” said Brad Ferguson, Vice President of Hall Structured Finance and the loan originator. He noted Jackson-Shaw is known for its successful properties across the country, including the Renaissance Las Vegas.

The 261,530-square-foot building will include 441 guest rooms and 18,025 square feet of flexible ballroom and meeting space and seven entertainment suites with an outdoor pool and terrace.

Symphony Park is a master-planned, 61-acre mixed-use development two miles north of the Las Vegas strip and six miles north of Harry Reid International Airport.

“Over the past five years, while developing the AC Hotel by Marriott and Element by Westin Symphony Park, we encountered significant shifts in the capital markets,” Jackson-Shaw President and CEO Michele Wheeler said. “Hall understood these challenges not only from a financing perspective but also from the hospitality side of the business.” Since its founding in 1972, Jackson-Shaw has developed more than 63 million square feet of primarily hospitality and industrial projects.