Benton Harbor Hotel One of Six Properties to Receive Millions

Courtyard by Marriott in Benton Harbor, MI, owned by BenCourt LLC, has received $3.8 million in fixed-rate financing with a 25-year amortization. The 90,000-sf building is situated on a 3.58-acre parcel. 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.

The hotel was one of six properties in five states to receive financing from GMAC Commercial Mortgage’s Hospitality Division. For all of the properties it arranged $32.7 million in financing. Two of the hotels are in Texas and there is one each in Ohio, Florida, Michigan and Maryland.

The properties include the Westin Great Southern Hotel of Columbus, OH, owned by the First Hotel Association, Towne Place Suites of Clearwater, FL, owned by RDA Development Co., Fairfield Inn of San Antonio, TX, owned by San AnAir, LLC. and BWI Microtel Inn & Suites of Linthicum, MD, owned by BWI Linthicum Associates.

GMAC Commercial Mortgage, based in Horsham, PA, is a wholly-owned subsidiary of GMAC Commercial Holding Corp. GMACCM has a servicing portfolio of over $81 billion. It 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.