NorthMarq Capital arranged $12 million construction/mini perm for Hampton Inn & Suites in Orlando, Florida
Hampton Inn & Suites
ORLANDO (June 25, 2013) – David Schofield and Andy Moses, senior directors of NorthMarq’s Orlando regional office, arranged financing of $12 million for a Hampton Inn & Suites located at 47 W. Columbia Street in Orlando, Florida. Financing was based on a 5-year construction/mini perm and a 25-year amortization schedule beginning in year 3. NorthMarq arranged this financing for the borrower, CJP Columbia Properties Hotel, LLC, through its relationship with a local bank. The developer successfully assembled several parcels adjacent to Orlando Health’s downtown campus and have subsequently rezoned and permitted the site for the Hampton development. This assemblage was a linchpin in the transaction since sites in the immediate vicinity of Orlando Health are very limited. Schofield and Moses said, “Identifying a local bank with first-hand knowledge of the demand generators surrounding the site was key in arranging the financial structure being requested by the developer.”
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.