The firm's Hospitality Industry Division in Washington, DC has orchestrated the deals. GMAC's Scott Rombach is traveling through the end of the week and isn't available to comment on the transactions for the two Residence Inn by Marriott hotels in Irving and Brownsville, TX and the Holiday Inn Express in Prescott, AZ.
The Irving hotel is a three-story facility, boasting 100 rooms in the Freeport Business Park near the Dallas-Ft. Worth International Airport. Borrower DFW Freeport RI Hotel Property Ltd is getting about $6.9 million in interim adjustable rate financing. The property consists of 72,466 sf and is situated on three acres.
The Brownsville Residence Inn is a three-story, 102-unit hotel, also situated on three acres. Borrower BMRI Hotel Property Ltd. is receiving $6.25 million in adjustable-rate financing for the 72,000-sf extended-stay property.
Arizona K Partners Ten LLC is getting about $2.8 million in interim financing for a three-story, 76-room Holiday Inn Express in Prescott. The 43,000-sf limited service hotel is located on two acres.
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