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Brokerage
Posted: December 9, 2013
Berns of NorthMarq arranges $11 million in financing for Hilton Gardens Inn
Sam Berns, managing director of NorthMarq's Rochester regional office, arranged financing of $11 million for the Hilton Garden Inn, located 155 East Main St. Financing was based on a 7-year term and a 25-year amortization schedule. NorthMarq arranged the financing for the borrower through its relationship with a correspondent life company.
"American National provided a fixed rate construction/permanent loan," said Berns. "This hotel represents the newest addition to Rochester's Central Business District. The Hilton Garden Inn will meet the demands of the adjacent convention center and other Rochester Central Business District demand generators."
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