NEW YORK AFC Realty Capital has arranged $40.5 million in acquisition financing for the purchase of a portfolio of five nationally-franchised U.S. hotel properties. The transaction was conducted on behalf of RLJ Development LLC.
The hotel properties had been operated by Hilton Hotels under the Homewood Suites brand. RLJ Development will continue to use the Homewood brand for the hotels, which comprise a total of 670 suites. The properties are located in Billerica, MA; Brentwood, TN; Bloomington, MN: Dallas; and Farmington, CT. (2/23/01)