Hospitality
Debt & Equity

NorthMarq Capital’s Richmond office finances permanent loan of $12.2 million for Country Inn & Suites in Virginia Beach, Virginia

RICHMOND (March 31, 2015) – Mike Lowry, senior vice president and Keith Wells, managing director, of NorthMarq Capital’s Richmond based regional office arranged a permanent loan for a Country Inn & Suites located at 1801 Atlantic Avenue in Virginia Beach, Virginia. The 114 guest room hotel, consisting of eight stories, was built in 1983. It was converted in 2010 from a Howard Johnson’s to Country Inn & Suites.

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.

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Country Inn & Suites
Debt
$12,200,000