Walker & Dunlop advised on an $86,000,000 loan to refinance the Caesars Republic Scottsdale, a Hilton Hotel, a newly-constructed, luxury grade, full-service asset located in the epicenter of Scottsdale Fashion Square.
Walker & Dunlop Arizona Capital Markets, led by Jim Pierson and Keaton Merrell, partnered with Walker & Dunlop New York Capital Markets, led by Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Ari Hirt and Christopher de Raet, to arrange the loan as an exclusive advisor to HCW Development. A regional bank provided the financing.
Jay Morrow and Carter Gradwell of Walker & Dunlop Hospitality guided HCW throughout the process, working in collaboration with the Capital Markets teams.
“HCW has been a valued client of Walker & Dunlop for many years, and we were thrilled to be part of this refinance,” Pierson said in a statement. “With over $500 million in closed loans together, we deeply appreciate both their partnership and friendship.”
The Caesars Republic Scottsdale is in Scottsdale, Ariz. Opened in March 2024, the 11-story property has 265 guestrooms, including five exclusive top-floor penthouse suites with panoramic views, outdoor terraces, and full kitchens, alongside 28 luxury suites. Guests can enjoy three restaurants, two pools, and over 20,000 square feet of event space, including a 7,000-square-foot ballroom that opens to Cleopatra’s Pool & Bar. For business events, it has versatile meeting spaces, including the 3,000-square-foot Camelback Veranda and several additional conference rooms.
Located next to Scottsdale Fashion Square, Caesars Republic Scottsdale offers immediate access to Scottsdale’s dining and retail district with over 200 upscale shops and restaurants. As the first non-gaming hotel by Caesars Entertainment in the U.S., this flagship property represents a significant partnership between Caesars Entertainment, Hilton Hotels, and HCW.
“Our collective team is thrilled to have played a role in this exceptional hotel’s legacy working alongside HCW,” said Gradwell, senior director of Hospitality at Walker & Dunlop. “The Caesars Republic Scottsdale epitomizes the luxury-leisure segment that is the pinnacle of hospitality capital markets & consumer demand today and the foreseeable future.”