CAI Investments has secured a $86.5 million construction loan to build Westin by Marriott hotel in Tempe. The details of the loan were not disclosed.
The 18-story, 290-room hotel is planned to feature state-of-the-art guest rooms and corridors with custom-designed elements and artwork as well as energy conservation practices.
The project broke ground in March and will deliver in 2021.
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Kelsi Maree Borland
Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.
