EATONTOWN, NJ-SBS Eatontown LLC, a local partnership, has received $12.15 million in interim, floating-rate acquisition financing for the newly built 131-key Staybridge Suites hotel property in this Monmouth County community. The funding was arranged by the Hospitality Division of GMAC Commercial Mortgage Corp.

The asset, which cost $16 million to build, is situated on a 7.3-acre site along Industrial Way East here. The five-story, 89,000-sf hotel features 1,100 sf of meeting space, a two-story “great room” for dining, an outdoor pool, fitness center and a 24-hour business center.

Staybridge Suites is a brand of the InterContinental Hotels Group. The local property is managed by InnVision Hospitality Services, of which SBS Eatontown is an affiliate, and is franchised under license agreement with IHG. When the local property opened in late May, it marked the 75th Staybridge Suites in the chain.

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