Monday, September 5, 2016

$5.8 Million Loan Arranged by Marcus & Millichap Capital Corp. for 105-Room Springhill Suites by Marriott in Port St. Lucie, FL

Springhill Suites by Marriortt, Port St. Lucie, FL

Robert Bhat
PORT ST. LUCIE, FL – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged a $5.8 million loan secured by a 105-room Springhill Suites by Marriott in Port St. Lucie, Florida.  Robert Bhat, a director in MMCC’s Miami office, arranged the debt placement.

“This hotel was acquired in an all-cash transaction in March 2016,” says Bhat. “We helped the buyer, an experienced hotel development group that specializes in value-add opportunities, refinance the investment.  

"They will complete a Property Improvement Plan (PIP) in the fall with a new design plan for the property.”

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

Kirk A. Felici
First Vice President/Regional Manager
 Miami Office


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