HFF Arranges $20 Million Refinancing for a Marriott Hotel and Spa in New Castle, New Hampshire
HARTFORD, CT, June 28, 2005. The Hartford office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged $20 million in refinancing for Wentworth by the Sea, a 166-keyMarriott Hotel and Spa in New Castle, New Hampshire.
HFF senior managing director Dana Brome and director Susan Larkin worked on behalf of Ocean Properties, Ltd., to secure the ten-year, fixed-rate loan through Massachusetts Mutual Life Insurance Company. Ocean Properties, Ltd., based in Portsmouth, New Hampshire and Delray Beach, Florida, is a privately-owned hotel management company with properties throughout North America.
Originally built in 1897, Wentworth by the Sea went through a $31 million renovation and expansion in 2002 to restore the property to a year-round, luxury, waterfront resort. The 166 rooms include 18 bi-level, extended stay one and two bedroom suites that have washer/dryers, full kitchens and multiple bathrooms, which the owner hopes to convert to time share units or condominiums in the future. The property also has 10,000 square feet of meeting space, three restaurants and a spa with fitness room, sauna and an indoor pool. Guests have access to the two outdoor swimming pools, a tennis court, the 18-hole historic Wentworth Country Club golf course and a marina with 170 slips. Wentworth by the Sea is located on 9.5 acres at 588 Wentworth Road in New Castle.
"The outstanding facilities at Wentworth by the Sea have been recognized by numerous organizations including The NationalTrust for Historic Preservation 203 Historic Hotels of America," said Brome. "Wentworth by the Sea was modeled after the elegant ocean liners of the late 1800's and was a hub for social, business and political personalities from around the world. After falling into disrepair in the 1980's, a coalition of preservationists, community supporters and the non-profit Friends of Wentworth restored it to its original charm and today it continues to be ranked as one of New England's premier resort destinations."
HFF operates 17 offices nationwide, and in combination with affiliate HFF Securities L.P. is a dominant real estate investment banking firm. HFF offers clients a full range of capital solutions and services including debt, equity, financial advisory, investment sales, note sales and loan servicing. Since 1998, the firm has completed close to $110 billion in transactions in all markets and property types.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
