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| Hampton Inn Cleveland Airport-Tiedeman Road, 10305 Cascade Crossing Brooklyn, OH |
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| 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 | www.hfflp.com
or follow HFF on Twitter @HFF.
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