FRISCO, TX— Hall Structured Finance has arranged $64 million in construction financing for two new hotel developments. In Long Island City, NY, Hall provided a $21 million loan to Queens Plaza North, LLC for its 137-room, prototype Holiday Inn that will be built in Queens 10 blocks from the East River. The loan has a three-year term with two, one-year extension options. In Columbus, OH, NP Platinum Hotel, LLC obtained $43 million through Hall for the Hilton Polaris Hotel it will develop. The 253-key hotel will include a conference center. The loan for the Hilton has a three-year term with two, one-year extension options. Hall also provided a bridge loan of $4 million at the closing to begin the development and allow for part of the equity requirement to be contributed post-closing.
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