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
