Hospitality - Debt

NorthMarq Capital

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

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 Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.