Henderson Park acquires Arizona Biltmore for $705 million

Client(s) Henderson Park Real Estate Fund

Jones Day represented Henderson Park Capital Partners in the acquisition and financing of the Arizona Biltmore, a LXR Hotel & Resort, for a purchase price of $705 million. The hotel is a 705-key luxury resort that sits on 39 acres located alongside the historic Arizona Canal in Phoenix, Arizona. Jones Day also represented Henderson Park in connection with the financing for acquisition, which was a term facility for $460 million, from a syndicate of lenders, led by Morgan Stanley and including Deutsche Bank and J.P. Morgan. It is anticipated that the loan will be securitized as a single-asset securitization. In connection with the acquisition, Jones Day also represented Henderson Park in its joint venture and hotel management agreement with Pyramid Global Hospitality, its operating partner.