NATIONAL REPORT—Lenders are still lending and owners are still selling. Here are the details:
CHC Secures $11.5M Refi for Homewood Suites Fayetteville
CHC Capital has arranged $11.5 million for the refinance of the Homewood Suites by Hilton in Fayetteville, NC for Shamin Hotels. The loan was placed with a national lender and offered a 10-year term, 10-years of interest only and a fixed interest rate locked at 3.85%. The 111-key Property was developed by the Sponsor in 2018 and has performed strongly.
JLL Arranges Sale of Citizen Hotel
JLL Hotels & Hospitality has advised on the sale of the 196-key Citizen Hotel, located in Sacramento, CA. Cambridge Landmark purchased the property. EVP Mark Fraioli and SVP Melvin Chu led the JLL team on the transaction.
F10 Hotels Closes Two Hotel Loans
F10 Hotels has closed two hotel loans: one for $21.5 million for Home2 Suites Domain in Austin, TX, the other for $7.5 million for Best Western Plus in Madison, AL. For both deals, the company ran a process resulting in quotes from multiple institutional quality lenders.