Acquisition and Upgrade Funding Timed for Summer Lull

Revere Capital originated a $12.73 million loan to facilitate the acquisition of Hilton Hotel East.

TUCSON, AZ—The 232-room Hilton Hotel East is near the University of Arizona at 7600 East Broadway Blvd. The Tucson Convention Center is within 8.5 miles and the Tucson International Airport is 12.8 miles from the hotel. It has recently been acquired by new owners and will undergo renovations.

Dallas-based Revere Capital’s San Francisco office originated a $12.73 million loan to facilitate the acquisition of this Hilton hotel. Revere Capital proceeds were used to fund the balance of the acquisition, provide capital to complete property renovations and upgrades, and to create a reserve account. Most importantly, the loan structure allows the owners to accelerate the extensive renovations during the summer months when the hotel is the least occupied.