NorthMarq’s Phoenix office arranges acquisition financing of $5.5 million for Ramada Inn located in Tempe, Arizona
Ramada Inn
PHOENIX, ARIZONA (December 12, 2019) – James DuMars, senior vice president/managing director and Griffin Martin, senior producer/vice president of NorthMarq’s Phoenix office negotiated acquisition financing of $5.5 million for a Ramada Inn. The hospitality property is located at 1635 North Scottsdale Road.
Financing Details:
- 15-year term
- 30-year amortization schedule
- Permanent-fixed loan
- NorthMarq arranged financing for the borrower through its relationship with a regional bank.
Property Details:
- The property contains 140 rooms.
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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.
