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Colchester Hampton Inn, Colchester, VT |
BOSTON, MA – HFF announced today that it has secured $10.65
million in financing for the Colchester Hampton Inn, a 187-room,
limited-service hotel in Colchester, Vermont.
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| Greg LaBine |
Working exclusively on behalf of
Linchris Hotel Corporation, HFF placed the long-term, fixed-rate first mortgage
with People’s United Bank. Loan
proceeds were used to refinance the existing loan and fund closing costs.
The
Colchester Hampton Inn is located at 42 Lower Mountain View Drive just off
Interstate 89 and across from the Park at Water Tower Hill, home to companies
including KPMG, Fletcher Allen Health Care and WPTZ Channel 5.
The property is also convenient to both downtown Colchester
and Burlington, Lake Champlain, Malletts Bay, Centennial Field, Fletcher Allen
Medical Center, The Burlington International Airport and five area colleges and
universities.
The hotel features
6,264 square feet of conference space, an exercise facility and a
5,000-square-foot freestanding restaurant leased to the Lighthouse Restaurant.
The
HFF team representing Linchris Hotel Corporation was led by director Greg
LaBine.
“Due
to the multiple demand drivers in the area, this hotel continued to exhibit
strong performance even through the economic downturn,” said LaBine. “Further, Linchris’ exceptional management
ability drives better than average bottom line performance throughout their
entire portfolio. Those two factors
made this an attractive loan opportunity for People’s United Bank.”
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 | www.hfflp.com
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