The Class A portfolio includes 9,578 units.

The financing was secured through multiple loans.

The hotel plans to refinance $1.18 billion in past mezzanine and CMBS debt.

Terra and Frisbie Group's plan would set aside a total of 1.16 million square feet for development.

The property spans 696,000 square feet.

The community features 344 units.

The move is part of a larger troubling trend.

The company sees the move helping grow its entire portfolio passed $2 billion.