GERMANTOWN, TN— Equity Inns, Inc. has obtained $95 million in senior mortgage debt. The REIT is using eight of its hotels as collateral for the loan. The 10-year loan includes a fixed-rate of 5.865% per annum. Equity Inns will primarily use the proceeds to repay outstanding borrowings under its line of credit. JP Morgan Chase, N.A. acted as the sole underwriter in the financing deal.
Previous ArticleVeteran Reese Takes Helm At Hersha Hospitality Management
Next Article Embassy Suites Tampa-Downtown Opens Its Doors