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Barings and Apollo affiliates provide $113m debt package for Westin Indianapolis
Transactions - JANUARY 29, 2025

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Barings and Apollo affiliates provide $113m debt package for Westin Indianapolis

by Released

Barings announced that it has jointly originated a $113 million debt package alongside affiliates of Apollo to refinance the Westin Indianapolis hotel in downtown Indianapolis. An affiliate of KSL Capital Partners has owned the hotel since 2019.

The loan was structured with mezzanine and senior mortgage components. Barings funded the mezzanine component of the loan, with Apollo affiliates originating the senior portion.

“We are excited to partner with Apollo to provide this financing for KSL, a best-in-class hospitality investor,” said Daniel Hedgepeth, director at Barings. “We view the hotel as a high-quality asset in a prime downtown location, offering direct connectivity to the Indianapolis Convention Center. We consider fundamentals in the Indianapolis hotel market to be healthy, with a favorable supply environment and strong growth in demand with the continued recovery of business and group travel. With extensive property renovations completed in recent year

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