AJ Capital Partners Secures $303.5M Refinance From Barings For Seven Graduate Hotels

This transaction involves a loan secured by AJ Capital Partners for seven Graduate Hotels located in various university markets, specifically in Annapolis, Maryland; Columbus, Ohio; East Lansing, Michigan; Eugene, Oregon; Fayetteville, Arkansas; Palo Alto, California; and State College, Pennsylvania. The properties collectively total 1,340 keys. The refinancing amount for this portfolio is $303,500,000, structured as a five-year, floating-rate loan, facilitated by Barings as the lender.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $303,500,000
• Lender: Barings
• Landlord: Benjamin Weprin - AJ Capital Partners
• Brokers: Tom Traynor, Tom Rugg, Mark Finan & Henry Fenmore - CBRE
• Loan Type: Refinance
• Loan Terms: five-year, floating-rate
• Keys: 1,340
• Markets: Annapolis, Maryland; Columbus, Ohio; East Lansing, Michigan; Eugene, Oregon; Fayetteville, Arkansas; Palo Alto, California; State College, Pennsylvania

The key individuals involved in this transaction include Benjamin Weprin representing AJ Capital Partners as the landlord, and brokers Tom Traynor, Tom Rugg, Mark Finan, and Henry Fenmore, all from CBRE, who arranged the refinancing deal. Their roles were pivotal in securing the financial backing necessary for this property portfolio in close proximity to major universities such as Stanford, Penn State, Ohio State, and Michigan State.