Holliday Fenoglio Fowler (HFF) arranged a $120 million refinancing for nine full-service hotels on behalf of Investcorp. These loans will later be securitized in an adjustable rate deal.
The refinancing, an adjustable loan, was done through JPMorgan Chase. The securitization will be serviced by HFF. Loan proceeds were used to refinance an existing first mortgage.
The hotels in the portfolio comprise five Doubletree by Hilton-flagged hotels, and one hotel each of Marriott, Sheraton, Wyndham, and Hilton Signature flags.
The hotels are located in California, Florida, Massachusetts, Minnesota, New Jersey, New York, Pennsylvania and Texas.