Simmons Bank Provides $57 Million Refinance For Sofitel Hotel Philadelphia With Clearview Hotel Capital

The asset involved in this transaction is a hotel located at 120 South 17th Street, Philadelphia, PA. The property, known as the Sofitel Philadelphia at Rittenhouse Square, comprises 306 keys and is a 13-story luxury hotel. Since 2011, the hotel has seen capital improvements totaling $26 million.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $57,000,000
• Lender: Simmons Bank
• Landlord: Clearview Hotel Capital
• Broker: JLL
• Loan Type: Refinance

The refinancing for the hotel was arranged by JLL on behalf of a joint venture that includes Clearview Hotel Capital, highlighting the collaboration among these entities to secure the financing for the property. The involvement of Simmons Bank as the loan provider illustrates the financial backing for the continued operation and enhancement of the hotel.