Hospitality - Debt

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 is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.