Holliday Fenoglio Fowler (HFF), commercial real estate capital intermediary, has arranged a $120 million loan for a portfolio of nine full-service hotels. The financing has been arranged for global investment group Investcorp. through JPMorgan Chase Bank.
The loan will be serviced by HFF. It is set to be securitized in an adjustable-rate securitization. The company used the loan proceeds to refinance an existing first mortgage. The hotels, located in California, Florida, Massachusetts, Minnesota, New Jersey, New York, Pennsylvania and Texas, comprise five Doubletree by Hilton-flagged hotels, and one hotel each of Marriott, Sheraton, Wyndham, and Hilton Signature flags.
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