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

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $57 billion and the multi-year tenure of our more than 500 people.