Breaking will be offline for scheduled maintenance Saturday July 24 5 AM US EST to 8:30 AM EST. We apologize for the inconvenience.


Thank you for sharing!

Your article was successfully shared with the contacts you provided.

FORT WORTH-New York City-based Terra Capital Partners closed a three-year, $8.8 million mezzanine loan as part of multi-level financing for the Presidio Cos.’ purchase of the Fort Worth Sheraton Hotel & Spa, a 431-room full-service downtown hotel minutes from the city’s convention center. Presido acquired the hotel, at 1701 Commerce, from bankruptcy this past summer.

“This was a very complex deal,” says Bruce Batkin, president and CEO of Terra Capital. “The hotel had been operating in bankruptcy and was facing imminent foreclosure.  Our financing was part of a $58 million capital stack that enabled the borrower to acquire the hotel out of bankruptcy through a section 363 sale.”

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information

GlobeSt. NET LEASE Fall 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.