EGG HARBOR, NJ— Washington Trust's Commercial Real Estate Group has provided $13 million in debt financing to an affiliate of MCR Development LLC for the 120-room Homewood Suites by Hilton Egg Harbor here.
The hotel located at 3008 English Creek Ave. in Egg Harbor Township is a four-story extended stay hotel with an indoor swimming pool, exercise room, sports court, business center, suite shop, and guest laundry room. The property was acquired in May of 2012.
“The Homewood Suites is in convenient proximity to local business centers like the FAA's William J. Hughes Technical Center as well as tourism destinations like Atlantic City, generating a greater demand for rooms in the area,” said Washington Trust Chairman and Chief Executive Officer Joseph J. MarcAurele.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
