The Biltmore name in Phoenix covers a resort hotel, a high-end shopping center at Biltmore Fashion Park, and apartment buildings that sponsors search as Biltmore apartments. Guests and shoppers use the same streets. Lenders do not use one term sheet for a hotel, a shop lease, and an apartment community. Say which asset you are financing.
Office is the overlap to avoid. The Esplanade and the other Camelback towers are the office spine, and they already have Camelback Corridor office loans. This page will not restate that office underwriting. If your file is a tower, go there. If it is the hotel, the fashion park, or apartments, stay here. The city page is Phoenix.
The resort and the fashion park
The Arizona Biltmore is a resort hotel. Hospitality credit reads the flag, occupancy, and the season, not a retail sales report. Biltmore Fashion Park is retail: shop leases, an anchor strategy, and sales. A restaurant pad in the park is still retail or a single-tenant build, depending on the lease. We arrange the senior loan that matches the rent roll. We do not own the park and we do not quote a rate for it.
Statewide notes for those property types are Arizona hospitality and Arizona retail. The index of markets is Markets.
Apartments, and the office loan we will not put here
Biltmore apartments, when the collateral is a rental community, can be agency, life company, a bank, or bridge. A condo a person lives in is not a commercial loan. We are not a Fannie Mae DUS lender on the apartments we do arrange.
Please do not ask this page for a Camelback office coupon. Office comparisons for Phoenix run through Phoenix bank and the Camelback page. A leased hotel or retail hold that is meant to be permanent is closer to Phoenix permanent.
Capital for Biltmore property that is not office
| Source | When it fits |
|---|---|
| Hospitality | The Arizona Biltmore resort is a hotel loan. |
| Retail | Biltmore Fashion Park shops are retail collateral. |
| Phoenix permanent | A stabilized Biltmore hotel or retail hold. Not a printed coupon. |
| Camelback Corridor | Office on Camelback, including the Esplanade, belongs there. |