Residence Inn Phoenix Desert View at Mayo Clinic

Location: Phoenix, AZ
Type: Hospitality
Price: $31,000,000

SMC provided a $31,000,000 ten-year fixed rate loan to refinance the existing mortgage on the Residence Inn Phoenix Desert View at Mayo Clinic, an upscale, extended stay lodging facility with 208 guest rooms. The six-story Property opened in 2009 and is located on the campus of the Mayo Clinic Hospital in northern Phoenix, AZ. Notably, the asset was on a long-term ground lease with Mayo Clinic Arizona.