(To read more on the debt and equity markets, click here.)
ROSEMONT, IL-Locally based First Hospitality Group has obtainedjust under $32.2 million in first-mortgage funding to re-capitalizea three-property portfolio. It will use approximately $2.4 millionof the loan proceeds to renovate the properties.
They are the 117-room Hampton Inn & Suites in South Bend,IN, which was built in 1996; a 130-room Hampton Inn in Ann Arbor,MI, which was built in 1988, and an 84-room TownePlace Suites inBloomington, IN, which opened in 2000. FHG developed and managesall three assets.
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