NorthMarq’s Tampa office arranges $7 million in acquisition financing for Fairfield Inn & Suites

Fairfield Inn & Suites

Debt & Equity

Multi-Tenant

TAMPA, FLORIDA (July 24, 2019) – Lauren Hanley and Bob Hernandez of NorthMarq’s Tampa-based regional office arranged $7 million in acquisition financing for a 78-key Fairfield Inn & Suites by Marriott in the Holiday-Tarpon Springs area on the west coast of central Florida.

The loan was structured with a 10-year term on a 30-year amortization schedule. “NorthMarq worked diligently with a CMBS lender to close a full leverage, fixed rate, non-recourse loan in a short time frame for the client’s acquisition of this asset,” said Hanley.

Constructed in 2011, the four-story hotel was fully-renovated in 2018. The property is ideally located along the major thoroughfare of U.S. Highway 19 with nearby points of interest including the historic waterfront town of Tarpon Springs, Innisbrook’s championship golf courses and dozens of natural attractions along Florida’s “Nature Coast.”

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About Northmarq

Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.