Done Deals: HFF announces acquisition financing for Holiday Inn Ann Arbor Near The University of Michigan

Saturday, March 16, 2019

HFF announces acquisition financing for Holiday Inn Ann Arbor Near The University of Michigan

Holiday Inn Ann Arbor, 3600 Plymouth Road,
Near The University of Michigan,
Ann Arbor, MI

CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged financing for the acquisition of Holiday Inn Ann Arbor Near The University of Michigan, a 225-room, full-service hotel situated just off the University of Michigan in Ann Arbor, Michigan.

Nicole Aguiar

The HFF team worked on behalf of the borrower, an affiliate of Linchris Hotel Corporation, to arrange the five-year, fixed-rate loan. Loan proceeds will be used to acquire the hotel and execute a property improvement plan that will include modernizing the guestrooms, bathrooms and building envelope.

Since its development in 1980, the Holiday Inn Ann Arbor Near The University of Michigan has been one of the only full-service hotels on the north side of Ann Arbor.

The hotel, which was last renovated in 2012, features more than 6,800 square feet of meeting space, a full-service restaurant, fitness center, tennis and basketball courts, video arcade, 24-hour business center, on-site salon and seasonal indoor/outdoor pool.

Greg LaBine

Located at 3600 Plymouth Road, the hotel is just off the heavily trafficked U.S. 23, which provides immediate access to downtown Ann Arbor, U.S. 14, Interstate 94 and major local cities, including Detroit, Ypsilanti and Toledo.

Additionally, the hotel is proximate to the University of Michigan and Eastern Michigan University, which have a combined enrollment of more than 65,000 students.

The HFF debt placement team representing the borrower consisted of managing director Greg LaBine, senior director Jeff Bucaro and director Nicole Aguiar along with managing director Matthew Schoenfeldt, a licensed Michigan real estate broker.

Jeff Bucaro

“HFF was pleased to assist Linchris in their continuing expansion into other markets,” LaBine said. “Linchris’ ability to utilize superior management techniques to improve operations through appropriate expense controls has been proven to work successfully regardless of brand or location.”