July 12, 2022 1:00 PM
Newmark has arranged a $72 million loan to facilitate the refinance of the Marriott St. Louis Grand, a 917-key hotel featuring 77,000 square feet of meeting space located immediately adjacent to the Americas Center Convention Complex in the heart of the St. Louis Central Business District. The Newmark team was led by Jordan Roeschlaub and Dustin Stolly, along with Nick Scribani and Tyler Dumon.
Originally developed in 1917 as the fourth Statler Hotel in the world, the Marriott St. Louis Grand is a best-in-class convention hotel. The hotel’s tower provides guests with the contemporary comforts and technology of a modern space while also delivering an unparalleled historic and nostalgic experience in the original Statler Hotel. The sponsor acquired the hotel in 2014 and commenced a comprehensive renovation across the hotel, positioning the asset at the top of the St. Louis market.
With the nearby Americas Convention Complex currently undergoing a $210 million renovation, the Marriott St. Louis Grand is well-situated to take advantage of growing convention and group business as the market recovers post-pandemic. Additionally, the hotel features 77,000 square feet of flexible meeting space that attracts a variety of group and social business.
The property is within walking distance to the city’s most transited locations, including the Gateway Arch, Busch Stadium and the National Blues Museum. Moreover, the hotel is within blocks of the Stifel Trust company headquarters and US Bank Plaza, and is surrounded by 10.1 million square feet of downtown office space and premier high-end retail outlets, allowing the hotel to capture a variety of demand segments in the St. Louis market.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues of nearly $3.1 billion for the twelve months ending March 31, 2022. Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 6,300 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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