Transactions 3/15/09
Aloft Austin Rockbridge Capital closed a first mortgage and mezzanine investment in a 140-room Aloft in Austin, TX. LodgeWorks will operate the Aloft Austin Northwest.
Cambria Suites Horizon Properties Group and Madison Realty Group finalized $12.8 million in financing for development and construction of a new Cambria Suites hotel in North Strabane Township, Washington County, PA.
Courtyard by Marriott in Pittsburgh A $13.4-million loan to build a 124-room Courtyard by Marriott in Pittsburgh, PA has been secured by Concord Hospitality Enterprises.
Days Inn of Salem The Mumford Company represented Dil Enterprise in the sale of the 71-room Days Inn of Salem, VA to Devkison, LLC.
Fairmont Washington Cushman & Wakefield Sonnenblick Goldman's U.S. Hotel Group arranged refinancing of the 415-room Fairmont Washington, DC. A German bank provided the loan on behalf of the owners, Cadbridge Investors, LP.
Holiday Inn Express Premier Capital Associates arranged and closed $7.1 million in financing for development of a 77-unit Holiday Inn Express in Sequim, WA.
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