Renovations and Rebranding Planned for Scottsdale Hotel

JLL secures $43 million in bridge financing

. January 26, 2015

SCOTTSDALE, AZ - January 26, 2015 - On behalf of Scottsdale-based Snyder Nationwide Real Estate, Inc., JLL today announced the firm has secured $42.7 million in bridge financing for Chaparral Suites, which will be re-branded as an Embassy Suites Hotel. Prime Finance provided the three-year, floating-rate loan. The loan will be used for the acquisition and renovation of the hotel.

Managing Director John Manning, Senior Vice Presidents Alex Witt and Mike Huth and Vice President Pavan Malhotra led the JLL team on the transaction.

“Snyder Nationwide has developed a strong plan to revitalize the hotel,” said Manning. “Lenders were drawn to the opportunity to back best-in-class sponsorship.”

Added Huth, “The property has an excellent location in Scottsdale and the affiliation with Hilton Hotels & Resorts is expected to really drive the hotel's performance.”

The 312-key full-service hotel and conference center is located amongst Scottsdale's largest employers and top cultural and entertainment attractions. The hotel features two food and beverage outlets, 50,000 square feet of meeting and function space, two pools and a fitness center.

JLL's Hotels & Hospitality Group serves as the hospitality industry's global leader in real estate services for luxury, upscale, select service and budget hotels; timeshare and fractional ownership properties; convention centers; mixed-use developments and other hospitality properties. The firm's 300 dedicated hotel and hospitality experts partner with investors and owner/operators around the globe to support and shape investment strategies that deliver maximum value throughout the entire lifecycle of an asset. In the last five years, the team completed more transactions than any other hotels and hospitality real estate advisor in the world totaling nearly US $36 billion, while also completing approximately 4,000 advisory, valuation and asset management assignments. The group's hotels and hospitality specialists provide independent and expert advice to clients, backed by industry-leading research.

For more news, videos and research from JLL's Hotels & Hospitality Group, please visit: www.jll.com/hospitality or download the Hotels & Hospitality Group's iPhone app or iPad app from the App Store.

About JLL

JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $53.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.

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