Hospitality - Debt

NorthMarq Capital’s Boston office arranges acquisition financing of $2.75 million for Holiday Inn Express & Suites in Bucyrus, Ohio

BOSTON (March 11, 2015) – Matt Marshall, vice president of NorthMarq Capital’s Boston regional office arranged acquisition financing of $2.75 million for Holiday Inn Express & Suites, a 40,380 sq.ft. hospitality property located at 1575 North Sandusky Avenue. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender.

“The lender stepped up to deliver on a long term non-recourse loan for a hospitality asset in a tertiary market,” said Marshall. “Both lender and borrower realized the strong past performance and future potential of the asset and worked through some challenging hurdles to close. NorthMarq was happy to facilitate the financing and we look forward to future transactions with the parties involved.”

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.