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