DALLAS – August 18, 2023 – Dallas-based HALL Structured Finance (HSF) announced today that the company has originated a $17.4 million loan in connection with the development of a Candlewood Suites by IHG in Mesa, Arizona. The project is being developed by Overland Development.
The four-story, 108-room hotel is part of a 12-acre mixed-use development that includes an existing 577-unit self-storage building; a 240-unit apartment complex, scheduled to open by the end of the year; and planned restaurant. The extended stay hotel will feature a business center, sundry shop, outdoor grilling area, fitness center, gazebo, outdoor pool with hot tub, and guest laundry area. Each suite will include a fully equipped kitchen.
The owner, Overland Development, is a real estate development, construction, management, and capital company based in Lehi, Utah. Since its inception in 1987, Overland has developed more than $500 million in real estate projects.
Read the full press release here.
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