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Berkadia Secures $78M for Six Hotel Properties
Berkadia secured $78 million financing for six hotel properties in a portfolio of eight total hotel properties on behalf of a partnership led by PEG Companies. Director Adrienne Kautzman of the Phoenix office secured the acquisition bridge loan through Ares Commercial Real Estate Corporation.
“PEG’s investment thesis, coupled with our deep lending relationships and knowledge of the hospitality space, allowed us to facilitate flexible and competitive financing on these six hotels to provide various exit strategies for the PEG team,” said Kautzman.
The properties include Residence Inn by Marriott and Courtyard by Marriott hotels located in St. Petersburg, FL; Sacramento, CA; Santa Fe, NM; Charlotte, NC; Phoenix and St. Louis, for a total of 828 hotel rooms.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Sale/Acquisition