PARK CITY, Utah—CooperWynn Capital introduced it has accomplished the mortgage modification for the Resort Indigo Detroit Downtown on behalf of the possession group.
The property options 241 rooms with 48 suites, an on-site restaurant, a health heart, and over 1,750 sq. toes of assembly house. The modification permits the possession to keep up their present mortgage whereas changing covenants and gives flexibility within the rapid future.
“CooperWynn was capable of create a aggressive debt course of for the lodge at a time of lender uncertainty final fall. Consequently, we had been capable of restructure our present mortgage, cut back borrowing prices, and modify sure covenants that can each enable for added flexibility and enhance monetary efficiency,” stated Brian Patrick Martin, co-managing associate, HPI Resort Alternative Fund LLC. “Their involvement within the course of was important to our profitable restructure.”
Positioned in downtown Detroit, the Resort Indigo Detroit Downtown permits company to soak up skyline views on the Detroit Riverfront and discover the Motor Metropolis, with close by points of interest, together with Ford Subject, Little Caesars Enviornment, and the Detroit Institute of the Arts.
“In right now’s dynamic market, we acknowledged the significance of a complete advertising course of to discover the total spectrum of choices for this asset,” stated Stan Kozlowski, principal, CooperWynn Capital. “Following an intensive analysis, the present lender offered probably the most compelling resolution, strategically aligned with possession’s long-term imaginative and prescient.”
