COLUMBUS, OH— RockBridge Capital, LLC, has closed on deals to finance the construction of Marriott- and Hilton-branded hotels in California and Illinois. In one transaction, RockBridge closed on a $23.75 million stretch-first mortgage to finance construction of a 213-room portfolio that includes a 120-room Courtyard and a 93-unit TownePlace Suites in Thousand Oaks, CA. The sponsor is Valencia, CA-based Ocean Park Hotels. RockBridges financing provided 89.3% of the total cost of the project. In a second transaction, RockBridge closed on a $9.1 million stretch-first mortgage to finance construction of a 117-room Hilton Garden Inn in the Chicago suburb of Tinley Park, IL. The sponsor of this deal is Mid-Continent Development and Construction, which is based in Tinley Park.
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