PHILADELPHIA, PA—Holliday Fenoglio Fowler has arranged $160 million in combined financing for the development of a trophy-class, 755-room, dual-branded W + Element hotel development in Center City Philadelphia, PA.

HFF worked exclusively on behalf of Chestlen Development, LP to secure construction financing totaling $160 million by structuring a $100 million senior loan in conjunction with $60 million in mezzanine financing.  HFF placed the senior loan with Bank of the Ozarks and the mezzanine financing with Cornerstone Real Estate Advisers LLCVine Street Matthews, a joint venture between Matthews Southwest and Vine Street Ventures, is the developer of this project.

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