The Hampton Group Secures $141M Loan For IKONIC Scottsdale Hotel From Bank OZK

The property involved in this transaction is a hotel located at 16640 North Scottsdale Road in Scottsdale, AZ. The asset type is a hotel consisting of 245 units and is set to be constructed as a luxury apartment tower with 14 stories. The financing for this project amounts to $141,000,000.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $141,000,000
• Market: Scottsdale, AZ
• Units: 245
• Lender: Bank OZK & Related Fund Management
• Landlord: The Hampton Group
• Brokers: Drew Fletcher, Bryan Grover & Jesse Kopecky - Greystone
• Loan Type: Construction

The Hampton Group secured the construction financing for the IKONIC Scottsdale project, utilizing a senior mortgage from Bank OZK along with mezzanine debt from Related Fund Management. The brokers representing this deal are Drew Fletcher, Bryan Grover, and Jesse Kopecky from Greystone.