Thorofare Capital has funded a $7,000,000 bridge loan for Indian Bend Hotel Group, LLC, an affiliate of Caliber Companies, for its leasehold acquisition of the Hampton Inn & Suites Scottsdale-Riverwalk in Scottsdale, Arizona.  The sponsor acquired the 101-key limited service hotel located at 9550 E. Indian Bend Road for $10,400,000.

Built in 2012 by Branson, MO-based HCW, LLC., the Hampton Inn & Suites is adjacent to the Talking Stick Resort – Casino & Golf Course, which sees approximately 3,500,000 visitors per year.  The hotel is part of the 187-acre, $400 million Riverwalk Arizona master development that is being orchestrated by Skokie, IL-based The Alter Group. The master development also includes Topgolf, a 240-yard premier golf entertainment complex. Located at Via de Ventura & Indian Bend Road, Riverwalk Arizona has significant Loop 101 freeway access and visibility in a central location. Adjacent to Riverwalk Arizona is The Pavilions, a 140-acre retail shopping center.

The hotel’s 101 rooms consist of 18 standard king rooms, 34 king studio rooms, 7 king sofa rooms, and 42 double queen rooms. Amenities at the property include a fitness center, swimming pool, laundry facility, 24-hour business center, 650 square feet of meeting space, and complimentary hot breakfast. Notably, Hilton Worldwide gave the property an overall index score of 96%.   The property has outperformed its competitive set in occupancy, ADR and RevPAR, after it stabilized in 2013, with penetration rates of well exceeding 100%.

The financing enabled the sponsor to acquire the hotel from its original builder, HCW LLC, in an off-market transaction facilitated by hospitality brokerage firm Chandler Hospitality Group.  Heavlin Management Company will manage the hotel’s day-to-day operations.  Thorofare placed the loan in its third discretionary debt fund, Thorofare Asset Based Lending Fund III, L.P.