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Chicago & Midwest  + Midwest  + Hospitality  |  March 13, 2019
Paul Bubny
By: Paul Bubny

HFF Secures Financing on Ann Arbor Lodging Property

HFF has arranged acquisition financing on the Holiday Inn Ann Arbor Near the University of Michigan, a 225-room, full-service hotel in Ann Arbor, MI. As its name suggests, the lodging property is close to both the University of Michigan and Eastern Michigan University, which have a combined enrollment of 65,000 students.

An HFF team of Greg LaBine, Jeff Bucaro, Nicole Aguiar and Matthew Schoenfeldt worked on behalf of the borrower, an affiliate of Linchris Hotel Corporation, to arrange the five-year, fixed-rate loan for an undisclosed amount.  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 Ann Arbor’s north side. The property was last renovated in 2012.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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