Hospitality Capital JV secures $23.5M mezzanine loan for The Monarch Scottsdale Hotel Makeover, to be rebranded as Hotel Solaya by Hyatt

7/30/2025

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Connect CRE

• Subcategory: Capital Markets: Debt, Hospitality: Hotel, Hospitality: Resort

• Tag: New Brand | Renovation

• Additional Filters-Subcategory: Capital Markets: Mezzanine

• Additional Filters-Tags: Retail: Franchise

• Company: Hyatt Hotels Corp (NYSE: H)

Lionheart Strategic Management and Schroders Capital provided a $23.5 million mezzanine loan to Namastay Development and Hospitality Capital Partners to renovate and recapitalize The Monarch, a 194-key hotel in Old Town Scottsdale, Arizona. Additional financing is being provided via a $29.5 million senior loan.

The Monarch is being rebranded into “Hotel Solaya” by Hyatt. Originally built in 1975, the hotel sits on over six acres and features a restaurant and bar, coffee shop, outdoor pool and bar, fitness center, spa and over 15,000 square feet of meeting space.