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Brokerage
Posted: February 29, 2008
Northmarq Capital arranges $8.5 million refinance for Country Inn
NorthMarq Capital, Inc. has completed the $8.5 million refinance of two Country Inn and Suites properties located in northern and southern Georgia that together provide 150 guest rooms.
"Our client, a Georgia developer with a small hotel portfolio, sought a cash out refinance during the recent turbulence in the CMBS market," said Dimpesh Darjee, vice president in NorthMarq's New Jersey Regional office.
According to Darjee, NorthMarq identified a conduit lender who provided a 10-year loan with 25 years of amortization.
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