HFF Secures $13+ Million Refinancing for Four Points by Sheraton Hotel in Biloxi
DALLAS, TX - October 17, 2011 - HFF announced today that it has secured a $13.43 million refinancing for a 195-room, full-service Four Points by Sheraton hotel in Biloxi, Mississippi.
Working exclusively on behalf of the borrower, Dawn Properties, Inc., HFF placed the three-year floating-rate loan with Bank of the Ozarks. Loan proceeds are taking out an existing construction loan on the property.
Completed in 2009, the Four Points by Sheraton hotel features an outdoor pool with whirlpool and poolside bar, fitness facility, gift/sundry shop, business center with two meeting facilities and a restaurant/bar. The 10-story property is located at 940 Beach Boulevard adjacent to the Beau Rivage Casino, and the Hard Rock Cafe Biloxi close to Interstate 110 and Keesler Air Force Base in downtown Biloxi.
The HFF team representing Dawn Properties, Inc. was led by directors Travis Anderson and John Bourret.
Founded in 1986, Dawn Properties Inc. has bought and developed more than one billion dollars' worth of property in over 40 different markets in 13 states. From apartment construction and management to hotel and condominium development, Dawn Properties has a proven track record of success and the ambition to build to even greater heights.
Holliday Fenoglio Fowler, LP (“HFF”) and HFF Securities LP (“HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 19 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales, and commercial loan servicing. www.hfflp.com.
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