The hotels contain a total 2,069 rooms and are located primarily in the Southeast and Midwest. The properties are Holiday Inn Atlanta-Roswell in Atlanta; Hilton Palm Beach Oceanfront Resort in Palm Beach, FL; Holiday Inn Express Airport/Opryland and the Independent Sheraton Nashville Downtown in Nashville, TN; Holiday Inn Raleigh-Durham Airport in Raleigh-Durham, NC; Marriott Country Club Plaza in Kansas City; Marriott Park Vista Resort - Gatlinburg in Gatlinburg, TN; and the Embassy Suites Pittsburgh International Airport in Pittsburgh.
RockBridge replaced a $113.2-million loan with a new loan from Columbus, OH-based Nationwide Life Insurance Co. The remaining $29.3 million was funded by BOCP VI, a real estate debt fund managed by RockBridge and also based in Columbus. The fund kept its subordinate interest in the loan on the refinancing.
The interest rate for the three-year, 25-year amortized refinancing package is floating with a floor of 7.45%, Jim Merkel, managing director of RockBridge Capital tells GlobeSt.com.
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