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INDIANAPOLIS-LaSalle Hotel Properties, a multi-tenant,multi-operator REIT, has secured a $101.8-million loan with Bank ofAmerica N.A. The company used the 615-room Indianapolis MarriottDowntown, 350 W. Maryland St., as collateral.
According to company documents, proceeds from the loan were usedto pay off the previous $57-million mortgage secured by the hoteland reduce the company's outstanding balance on its creditfacility. The term of the loan is 10 years and is at a fixedannualized interest rate of 5.99%.
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