LYNDHURST, N.J.— Columbus, Ohio-based RockBridge Capital, Inc. has closed on a $17.2 million loan for the acquisition and renovation of a Novotel hotel here. Following a $6.5 million renovation expected to be completed in April 2002, the property will be reflagged as a 227-room, full-service Courtyard by Marriott. The loan represents approximately 70% of the total acquisition and renovation costs. The borrower is Boycon LLC, an equalized joint venture by Boykin Hotel Properties L.P. and Concord Lodging Investment Partners LLC.
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