Barings and Apollo Affiliates Provide $113 Million Debt Package for Westin Indianapolis
Barings and Apollo (NYSE: APO) affiliates have jointly originated a $113 million debt package to refinance the Westin Indianapolis. The financing structure includes mezzanine and senior mortgage components, with Barings funding the mezzanine portion and Apollo affiliates handling the senior portion.
The Hotel, owned by KSL Capital Partners since 2019, underwent full renovations from 2020-2022. Located in downtown Indianapolis, it features 575 guestrooms, 48,300 square feet of event space, a new food & beverage outlet, and a renovated fitness center. The property benefits from direct connectivity to the Indianapolis Convention Center and proximity to key city attractions.
This transaction adds to Barings' $23.5+ billion real estate debt platform. Eastdil Secured served as the financing advisor for the sponsorship.
Barings e Apollo (NYSE: APO) hanno originato congiuntamente un pacchetto di debito di 113 milioni di dollari per rifinanziare il Westin Indianapolis. La struttura di finanziamento include componenti di mezzanine e mutuo senior, con Barings che finanzia la parte mezzanine e le affiliate di Apollo che gestiscono la parte senior.
L'hotel, di proprietà di KSL Capital Partners dal 2019, ha subito una ristrutturazione completa dal 2020 al 2022. Situato nel centro di Indianapolis, dispone di 575 camere, 48.300 piedi quadrati di spazio eventi, un nuovo ristorante e bar, e un centro fitness ristrutturato. La struttura beneficia di una connettività diretta con il Centro Congressi di Indianapolis e della prossimità alle attrazioni principali della città.
Questa transazione si aggiunge alla piattaforma di debito immobiliare di Barings che supera i 23,5 miliardi di dollari. Eastdil Secured ha servito come consulente finanziario per lo sponsor.
Barings y Apollo (NYSE: APO) han originado conjuntamente un paquete de deuda de 113 millones de dólares para refinanciar el Westin Indianapolis. La estructura de financiamiento incluye componentes de mezzanine y mutuo senior, con Barings financiando la parte mezzanine y las afiliadas de Apollo manejando la parte senior.
El hotel, propiedad de KSL Capital Partners desde 2019, ha sido completamente renovado entre 2020 y 2022. Ubicado en el centro de Indianapolis, cuenta con 575 habitaciones, 48,300 pies cuadrados de espacio para eventos, una nueva oferta de alimentos y bebidas, y un gimnasio renovado. La propiedad se beneficia de una conexión directa con el Centro de Convenciones de Indianapolis y de su proximidad a las principales atracciones de la ciudad.
Esta transacción añade a la plataforma de deuda inmobiliaria de Barings que supera los 23.5 mil millones de dólares. Eastdil Secured actuó como asesor financiero para el patrocinio.
바링스와 아폴로 (NYSE: APO) 제휴사는 1억 1300만 달러 규모의 부채 패키지를 공동으로 배정하여 웨스틴 인디애나폴리스를 재정립했습니다. 재정 지원 구조에는 메자닌 및 선순위 모기지 구성 요소가 포함되며, 바링스는 메자닌 부분을 자금 지원하고 아폴로 제휴사가 선순위 부분을 운영합니다.
이 호텔은 2019년부터 KSL 캐피탈 파트너스 소유이며, 2020년부터 2022년까지 전면 개보수가 진행되었습니다. 인디애나폴리스 시내에 위치한 이 호텔은 575개의 객실, 48,300 평방 피트의 이벤트 공간, 새로운 식음료 매장 및 개보수가 완료된 피트니스 센터를 갖추고 있습니다. 이 건물은 인디애나폴리스 컨벤션 센터와의 직접 연결 및 도시의 주요 명소와의 근접성에서 혜택을 받습니다.
이번 거래는 바링스의 235억 달러 이상의 부동산 채무 플랫폼에 추가됩니다. 이스트딜 시큐어드가 후원에 대한 재정 고문 역할을 했습니다.
Barings et Apollo (NYSE: APO) ont conjointement originaire un package de dette de 113 millions de dollars pour refinancer le Westin Indianapolis. La structure de financement inclut des composants de mezzanine et de prêt hypothécaire senior, Barings finançant la partie mezzanine et les affiliés d'Apollo gérant la partie senior.
L'hôtel, détenu par KSL Capital Partners depuis 2019, a subi d'importantes rénovations de 2020 à 2022. Situé dans le centre-ville d'Indianapolis, il dispose de 575 chambres, de 48 300 pieds carrés d'espace événementiel, d'un nouveau point de vente de nourriture et de boissons et d'une salle de sport rénovée. La propriété bénéficie d'une connectivité directe avec le Centre de conventions d'Indianapolis et de la proximité des principales attractions de la ville.
Cette transaction s'ajoute à la plateforme de dette immobilière de Barings qui dépasse 23,5 milliards de dollars. Eastdil Secured a servi de conseiller financier pour le parrainage.
Barings und Apollo (NYSE: APO) haben gemeinsam ein Schuldenpaket über 113 Millionen Dollar zur Refinanzierung des Westin Indianapolis aufgelegt. Die Finanzierungsstruktur umfasst Mezzanine- und Seniorhypothekenkomponenten, wobei Barings den Mezzanine-Anteil finanziert und die Apollo-Affiliates den Senioranteil verwalten.
Das Hotel, das seit 2019 im Besitz von KSL Capital Partners ist, wurde von 2020 bis 2022 vollständig renoviert. Es befindet sich im Stadtzentrum von Indianapolis und verfügt über 575 Gästezimmer, 48.300 Quadratfuß Veranstaltungsfläche, ein neues Lebensmittel- und Getränkeangebot sowie ein renoviertes Fitnesscenter. Die Immobilie profitiert von einer direkten Anbindung an das Indianapolis Convention Center und der Nähe zu wichtigen Stadtattraktionen.
Diese Transaktion erweitert die Immobilienverschuldungsplattform von Barings, die mehr als 23,5 Milliarden Dollar beträgt. Eastdil Secured fungierte als Finanzberater für das Sponsoring.
- Joint $113 million debt package demonstrates strong institutional backing
- Strategic location with direct access to Indianapolis Convention Center
- Recently completed full renovation (2020-2022) enhancing property value
- Strong market fundamentals with favorable supply environment
- Growing business and group travel demand in the area
- None.
Insights
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The transaction holds particular significance for several reasons:
- The senior-mezzanine structure allows Apollo to maintain a preferred position in the capital stack while partnering with Barings to provide complete financing solution
- The property's direct connection to the Indianapolis Convention Center and recent comprehensive renovation (2020-2022) significantly enhances its competitive position
- The deal aligns with Apollo's strategy of focusing on high-quality assets in secondary markets with strong fundamentals
The partnership with Barings also demonstrates Apollo's ability to execute complex financing structures while maintaining risk control. The property's positioning in Indianapolis's central business district, combined with its institutional ownership by KSL Capital Partners, suggests strong underlying fundamentals that support the financing package.
This transaction reflects Apollo's broader strategy of selective deployment in commercial real estate debt, particularly in markets showing resilient performance metrics and strong recovery trajectories in the business travel sector. The deal's structure and terms indicate confidence in both the asset's performance potential and the broader Indianapolis market dynamics.
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 with Barings. “We view the Hotel as a high-quality asset in a prime downtown location, offering direct connectivity to the
The Westin Indianapolis is located in the heart of downtown
Eastdil Secured advised the sponsorship on the financing.
This transaction expands Barings’ 23.5+ billion* real estate debt platform, which leverages the team’s broad direct origination capabilities and deep credit expertise to invest in loans secured by institutional-quality commercial real estate.
About Barings
Barings is a
*Assets under management as of December 31, 2024
View source version on businesswire.com: https://www.businesswire.com/news/home/20250127327586/en/
Source: Barings
FAQ
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