NorthMarq Capital’s Louisville office finalizes $8.2 million refinance of Fairfield Inn & Suites in Huntington, West Virginia

Fairfield Inn & Suites
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LOUISVILLE (November 30, 2018) – Randy Waddell, senior vice president of NorthMarq Capital’s Louisville-based regional office, arranged the $8.2 million refinance of Fairfield Inn & Suites, a 106-room hospitality property located at 536 Kinetic Drive in Huntington, West Virginia. The fixed-rate, non-recourse loan was structured with a 10-year term on a 20-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. 

Borrower Testimony: “Although we have refinanced several hotels, this was our first time to work with a life company. Randy brought us several quotes and then helped us evaluate them and negotiate a term sheet. The deal closed on time and in keeping with the term sheet. Randy was a broker, but more than that, he was a coach. His experience and guidance were invaluable as he kept us on track during the process.”

Don Howard, Jr., H&W Management - President

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.