Meridian Capital Group Arranges $9 Million for the Refinance of the Hampton Inn by Hilton in Manheim, PA
ISELIN, N.J. March 7, 2017 - Meridian Capital Group, America's most active debt broker, arranged $9 million in financing for the refinance of the Hampton Inn Manheim located in Manheim, PA.
The five-year loan, provided by a balance sheet lender, features a fixed rate of 4.87% and was negotiated by Meridian Vice President, Josh Munk, who is based in the company's Iselin, NJ office.
The Hampton Inn Manheim, located at 2764 Lebanon Road, is a four-story, 95-room hotel. The property features spacious guest rooms and suites with wireless internet connection in each room. On-site amenities include a business center, laundry facility, fitness center, a pool and a large events and meeting room. The Hampton Inn Manheim is situated directly off of the Pennsylvania Turnpike and is located in the heart of Pennsylvania Dutch Country, where visitors enjoy close proximity to various tourist attractions, including Hershey Park, Sturgis Pretzel Factory and Tanger Outlets Lancaster.
“Despite the challenges of arranging financing for a seasonal hospitality asset in today's market, Meridian's strong relationships allowed us to identify the optimal lender and close at a lower rate than originally quoted with added proceeds,” explained Mr. Munk.
Founded in 1991, Meridian Capital Group is America's most active debt broker and one of the nation's leading commercial real estate finance advisory firms. In 2016, Meridian closed $35 billion in transaction volume. Since inception, the company has closed more than $270 billion in financing with the full complement of capital providers, encompassing local, regional and national banks, CMBS lenders, agency lenders, mortgage REITs, life insurance companies, credit unions and private equity funds. Meridian arranges financing for many of the world's leading real estate investors and developers and the company's expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, healthcare, student housing and self-storage properties. Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Ohio, Florida and California. www.meridiancapital.com
Contact:
Jonathan Stern
Meridian Capital Group
jstern@meridiancapital.com
212/972-3600
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