CATEGORIES | Debt | Equity | Financial Advisory | Investments | Multifamily | Student Housing
FIDES Capital Partners, LLC ("FIDES") announces that it has arranged the mezzanine financing for the development of a $32 million Hyatt Place hotel at the University of Iowa in Iowa City, IA. The hotel is part of a much larger mixed-use project which includes Class A student housing, office and retail. “When this engagement came my way, I jumped at it, because I was an undergrad at Iowa and I knew this location and the potential demand for these hotel rooms, which is within a couple blocks of the Quad,” said Greg Longoria of FIDES. “What I appreciated more as I got into the financing, was the difficulty in sourcing subordinate capital for hotel development in a tertiary market. But in the end we got it done. I think more investors should have absolutely jumped at this deal given the project’s significant barriers to entry.”