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.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.