July 12, 2019
Hall Structured Finance provided a $43.3 million construction loan for a Springhill Suites hotel in Revere. The new 168-room hotel will be adjacent to the Wonderland train station on Revere Beach. Amenities at the four-story property will include an indoor swimming pool, fitness center, an oceanfront restaurant, business center and a Starbucks location.
Bill Carroll, President of 1 Financial Corporation, sourced the financing for the project on behalf of developer Upton and Partners.
“The hotel’s ample meeting space, oceanfront views and close proximity to Boston’s central business district will make it a desirable destination for both business and leisure travel,” said Mike Jaynes, president of Hall Structured Finance. “These factors, along with the backing of Marriott’s strong loyalty program, made this an ideal project for us to finance.”
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