 |
| 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
786-522-7000
No comments:
Post a Comment