JLL Arranges $70.85M Loan for North Phoenix Hotels
A 257-room dual-branded hotel development on an 8.15-acre site in North Phoenix has secured a five-year floating-rate construction loan.
Updated on Nov. 9, 2026 in Hotels
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JLL secured a $70.85 million five-year, floating-rate construction loan for borrowers Plaza Companies and Fayth Hospitality to fund a 257-room dual-branded hotel development in North Phoenix. The project includes Hotel Six Four, Mayo Blvd, a Tapestry Collection by Hilton, and Homewood Suites by Hilton.
Why it matters
The development adds lodging capacity in North Phoenix, a site adjacent to the Mayo Clinic Phoenix campus with direct access to Loop 101. The financing structure shows lenders backing a large-format hotel project in the Phoenix market.
The $70.85 million five-year floating-rate loan covers a 257-room project split between 133 Tapestry Collection rooms and 124 Homewood Suites rooms on 8.15 acres. The extraction does not provide a comparator figure or the total project cost.
The players
JLL
JLL is a global commercial real estate and investment management firm whose Hotels & Hospitality team arranged the construction financing.
Plaza Companies
Plaza Companies is a real estate development firm that serves as a borrower on the construction loan for the North Phoenix project.
Fayth Hospitality
Fayth Hospitality is a hospitality company that serves as a co-borrower on the construction loan for the hotel development.
The details
The development will include a full-service restaurant, a private dining room, a cocktail bar, 2,564 square feet of meeting space, a fitness center and an outdoor pool. JLL's Hotels & Hospitality team, led by Managing Director Adrienne Andrews with Analyst Jessica Mehra, arranged the financing.
Timeline
The hotel development is projected to open in 2028.
Market Landscape
The project pairs a Tapestry Collection by Hilton property with a Homewood Suites by Hilton property on a single site, a dual-branded format that spreads one development across two price tiers. Developers using this model in the Hilton system typically target different traveler segments under one ownership structure.
Travelers planning visits to North Phoenix may see additional lodging options near the Mayo Clinic Phoenix campus once the project opens in 2028. The site's direct access to Loop 101 may make it convenient for drivers arriving from across the Phoenix metro area.
The takeaway
Hotel projects tied to major medical campuses can add practical lodging near hospitals and clinics, and readers planning trips to these areas should track opening timelines. Developments like this one often reflect where lenders see demand in a growing metro.
Further reading
Explore more on Hotels in the Phoenix area for context on regional lodging development.
Source note: This article includes information reported by Hotel News Resource.
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