The transaction includes select and limited hotels that are all part of the Hilton or Marriott brands. Berk, who originated the financing, tells GlobeSt.com that about a third of the 80 transactions his company has completed for select and limited service hotels have been for properties in the Midwest. He says that lenders tend to view these types of hotels as a good investment, because there is "less to go wrong without the restaurant component."
The six-building portfolio comprises the Hampton Inn in Janesville, WI; Fairfield Inn & Suites in Muskegon, MI; Hampton Inn in Muskegon, MI; Fairfield Inn in Okemos MI; Hilton Garden Inn in Plymouth MI; and Towne Place Suites in East Lansing, MI.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
