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.