October 9, 2017
Sonnenblick-Eichner Company arranged $135.78 million of non-recourse, first mortgage financing for 11 of Memphis-based Cooper Hotels’ properties totaling 2,037 rooms. The hotels include full service, select service, extended stay and limited service properties, located in Florida, Michigan, and Tennessee, all branded by Hilton Worldwide.
The five-year floating rate loan was underwritten to a 70% loan-to-value and pays on an interest-only basis for the entire term.
The portfolio includes:
- Hilton Naples, Naples, FL
- Hilton Orlando/Altamonte Springs, Altamonte Springs (Orlando), FL
- Homewood Suites by Hilton Ft. Myers Airport, Fort Myers, FL
- Embassy Suites by Hilton Detroit Metro Airport, Romulus, MI
- Hilton Garden Inn Detroit Metro Airport, Romulus, MI
- Hampton Inn & Suites Detroit/Airport-Romulus, Romulus, MI
- DoubleTree by Hilton Memphis, Memphis, TN
- DoubleTree by Hilton Jackson, Jackson, TN
- DoubleTree by Hilton Murfreesboro, Murfreesboro, TN
- DoubleTree by Hilton Oak Ridge – Knoxville, Oak Ridge, TN
- DoubleTree by Hilton Johnson City, Johnson City, TN
For comments, questions or concerns, please contact Dennis Kaiser