Hospitality
Debt & Equity

NorthMarq Capital’s Richmond office arranges $15.61 million permanent financing for two TownePlace Suites Hotels in Fredericksburg, Virginia

RICHMOND (July 11, 2017) Keith Wells, senior vice president/managing director of NorthMarq Capital’s Richmond regional office, arranged permanent financing of $15,610,00 for two (2) TownPlace Suites Hotels, both 93-unit hospitality properties located at 2772 Jefferson Davis Highway, Stafford, Virginia and 4700 Market Street, Fredericksburg, Virginia. The three-story, 93-suite hotels were built in 2006 and 2007, respectively. NorthMarq arranged financing for the borrower through its relationship with a regional bank.

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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

9c12598a-4f88-4bca-8e2b-29cb770b942d
TownePlace Suites Hotels
Debt
$15,610,000