NorthMarq Capital’s Los Angeles office secures $3 million refinance of La Quinta Inn and Suites in Las Vegas, Nevada
La Quinta Inn & Suites
LOS ANGELES (January 11, 2017) – David Blum, senior vice president/senior director of NorthMarq Capital’s Los Angeles-based regional office, negotiated the $3 million refinance of a La Quinta Inn and Suites located at 4288 North Nellis Boulevard in Las Vegas, Nevada. The transaction was structured with a 6-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a Credit Union.
“NorthMarq was able to overcome several challenging aspects of this transaction including Las Vegas hospitality, which featured cash-out and pre-payment flexibility,” said Blum.
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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.
