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.
– 15-year term
– 30-year amortization schedule
– Permanent-fixed loan
– NorthMarq arranged financing for the borrower through its relationship with a regional bank.
– The property contains 140 rooms.