Armed with $33 million in tax increment financing and now $160 million in loans, construction of the $280 million W and Element hotel is officially underway.
The financing includes $100 million senior loan in conjunction with $60 million in mezzanine loans.
HFF, which arranged the financing, placed the senior loan with Bank of the Ozarks and the mezzanine financing with Cornerstone Real Estate Advisers.
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