Saturday, October 3, 2015

HFF secures $7 million financing for Cleveland Hampton Inn in Brooklyn, OH

Hampton Inn Cleveland Airport-Tiedeman Road10305 Cascade Crossing
Brooklyn, OH

Jason Bond
CHICAGO, IL –Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $7 million in financing for Hampton Inn Cleveland Airport-Tiedeman Road, an 81-room, select-service property in the Cleveland suburb of Brooklyn, Ohio.

HFF worked on behalf of the borrower, Everest Hospitality LLC, an affiliate of the C/N Group, Inc., to place the 10-year, fixed-rate loan with Starwood Mortgage Capital. 

Loan proceeds will be used to acquire the property and complete renovations that will elevate the hotel to achieving the Hampton Inn Forever Young designation, a multi-pronged program that focuses on updating and modernizing hotels to attract younger guests.

Located at 10305 Cascade Crossing, Hampton Inn Cleveland Airport-Tiedeman Road is four miles east of Cleveland Hopkins International Airport, the largest airport in Ohio, and 10.6 miles west of downtown Cleveland.

 From 2011 to 2014, the hotel underwent almost $500,000 in renovations, including a new lobby, carpet, and upgrades to cooling, Wi-Fi and security systems.  The hotel received the 2014 TripAdvisor Certificate of Excellence Award for achieving outstanding traveler reviews on the TripAdvisor website.

 Features include an indoor pool, fitness center, business center and 1,128 square feet of meeting space.  Hampton Inn Cleveland Airport-Tiedeman Road’s planned updates include completely redoing all rooms and corridors, as well as radically enhancing the exterior by modifying the fascia and roofline.

The HFF debt placement team representing the borrower was led by associate director Jason Bond and managing director Daniel Kaufman.

 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

 or follow HFF on Twitter @HFF.

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