Hospitality - Debt

NorthMarq’s Phoenix office arranges acquisition financing of $5.5 million for Ramada Inn located in Tempe, Arizona

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.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.