TAMPA, Fla., Jan. 21, 2020 – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing, has arranged a $9.75 million conventional loan to acquire an 84-room Hampton Inn & Suites in Busch Gardens, Tampa, Florida.
“Located in a market with limited competition, this hotel has demonstrated the ability to generate consistent revenues,” said Robert Bhat, MMCC first vice president capital markets. “The buyer has experience with hospitality assets and sees an upside opportunity with management. We secured a 75% loan-to-value conventional loan with an interest rate of 4.50% and 25-year amortization. There is no prepayment penalty on the loan.”
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About Marcus & Millichap Capital Corporation
Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. Through its network of national, regional and local lenders, MMCC provides capital markets products for a wide variety of investment properties, including apartments, shopping centers, office buildings, industrial facilities, single-tenant net-lease properties, seniors housing, hotels/motels, manufactured home communities and self-storage facilities. In 2018, MMCC closed over 1,600 commercial real estate financing transactions totaling $6.2 billion. To learn more, please visit: www.mmCapCorp.com