HORSHAM, Pa., Aug. 16 /PRNewswire/ -- GMAC Commercial Mortgage's (GMACCM)
Hospitality Division has arranged $32.7 million in financing six hotel
properties in five states.
Two of the hotels are located in Texas and one each in Ohio, Florida,
Michigan and Maryland. The properties include:
-- Westin Great Southern Hotel, Columbus, Ohio -- First Hotel Assoc., LP
& FH received $12 million floating-rate financing originated by the
GMACCM Philadelphia office and funded by the company's Hospitality
Division in Washington, D.C. The building has 182,644 square feet
situated on .82 acres. The Victorian style hotel is a national
historic landmark located in the heart of downtown. It contains 196
rooms/suites and an average occupancy rate of 72 percent. Amenities
include a Grand ballroom, meeting space and a health and fitness
center.
-- Towne Place Suites, Clearwater, Florida -- RDA Development Co., LLC
received $5.5 million fixed-rate permanent financing with a 25-year
amortization. Built in 1999, the 95-unit extended stay facility is
situated on 3.10 acres.
-- Courtyard by Marriott, San Antonio, Texas -- San-Court, LLC received
$4.4 million fixed-rate financing with a 25-year amortization. The
building has 41,628 square-feet situated on 1.61 acres. The
four-story hotel contains 78 units with an 83 percent average
occupancy rate. Amenities include an indoor pool, meeting room, and
exercise room and breakfast area.
-- Courtyard by Marriott, Benton Harbor, Michigan -- BenCourt, LLC
received $3.8 million fixed-rate financing with a 25-year
amortization. The building has 90,000 square feet situated on 3.58
acres. The two-story hotel contains 98 units with a 76 percent
average occupancy rate. Amenities include an indoor/outdoor pool,
exercise room and breakfast area.
-- Fairfield Inn, San Antonio, Texas -- San AnAir, LLC received
$3.7 million fixed-rate financing with a 25-year amortization. The
building has 53,961 square-feet situated on 1.63 acres. The
five-story hotel, located at the San Antonio International Airport,
contains 120 rooms with a 72 percent average occupancy rate.
Amenities include an indoor pool, exercise room and breakfast area.
-- BWI Microtel Inn & Suites, Linthicum, Maryland - BWI Linthicum Assoc.,
LP received $3.3 million fixed-rate financing with a 25-year
amortization. The property is located near the Baltimore-Washington
International Airport. The building has 40,000 square feet and is
situated on 2.52 acres. The three-story limited service hotel
contains 110 rooms with a 75 percent average occupancy rate.
Amenities include a fitness room and breakfast area.
GMAC Commercial Mortgage, based in Horsham, is a wholly-owned subsidiary
of GMAC Commercial Holding Corp. It is the nation's leading one-stop
financial resource for the commercial real estate industry. The diverse
lending, servicing and securitization specialist has more than 50 offices
nationwide and operations in Canada, Japan, Ireland and France. GMACCM has a
servicing portfolio of over $81 billion, and provides a variety of financing
products and services including permanent, interim, and construction
financing, with specialized lending units focused on healthcare and
hospitality as well as e-commerce offerings through the Internet. It is also
the nation's largest Fannie Mae and Freddie Mac servicer.
News releases and other information about GMAC Commercial Mortgage and its
products and services are available at http://www.gmaccm.com on the Internet.
For GMACCM press releases by fax, call 800-758-5804, ext. 122720.
CONTACT: Scott Rombach of GMAC Commercial Mortgage, 215-328-3383 or
Scott_Rombach@gmaccm.com.
SOURCE GMAC Commercial Mortgage
 back to top
Related links:
http://www.gmaccm.com
Company News On-Call:
http://www.prnewswire.com/comp/122720.html or fax,
800-758-5804, ext. 122720
CONTACT:
Scott Rombach of GMAC Commercial Mortgage,
215-328-3383 or Scott_Rombach@gmaccm.com
|
