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NKF Arranges $27.8M Refinancing For Courtyard Marriott Riverwalk Hotel In San Antonio, TX

Friday, February 01, 2019
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CHICAGO—Newmark Knight Frank (NKF) is pleased to announce it has successfully arranged a $27,800,000 refinancing loan for the Courtyard Marriott Riverwalk hotel in San Antonio, Texas. Executive Managing Director Ben Greazel of NKF’s Capital Markets group originated the ten-year, interest-only, non-recourse loan on behalf of the borrower and long-time client, Finvarb Group, led by Richard Finvarb and Ronny Finvarb. Greazel secured the financing with Benefit Street Partners.

The Courtyard Marriott Riverwalk, which opened in 2009, is a 17-story, 220-room state-of-the-art hotel. Located directly on the River Walk, the property is within walking distance to the historic Alamo, Hemisfair Park, the Tower of the Americas, Rivercenter Mall, Market Square and an abundance of restaurants, shops and other famous attractions. In 2018, Finvarb Group completed a full property improvement plan, which included lobby, conference space and full-room renovations.

The newly-renovated hotel features a Spanish Mediterranean design, a Bistro restaurant, Starbucks, a meeting space, full-service bar, an outdoor swimming pool, fitness center, guest laundry, a 24-hour market and business center.

“The Courtyard Marriott Riverwalk’s beautiful, updated amenities combined with its River Walk location and the strong San Antonio market, resulted in advantageous terms for our client,” said Greazel.


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