Morgan Stanley and Prudential Real Estate Investors have provided a total of $89.5 million of financing against the Hyatt Regency Hill Country Resort and Spa, a 500-room property in San Antonio.
Morgan provided $61 million of senior debt, while Pru funded a $28.5 million mezzanine loan in a deal brokered by Cushman & Wakefield. Brown McCarroll of Dallas provided legal representation to Woodbine Development Corp., which owns the Hyatt Regency Hill Country.
Woodbine developed the property in 1992. It includes a 27-hole golf course that was named One of the Best Places to Play by Golf Digest. The company sought the financing in part to fund a $35 million expansion and renovation of the property. That project will double the property's 44,111 square feet of indoor meeting space, add to its 33,000 sf of outdoor meeting space and include upgrades to the property's four-acre water park.
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