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Columbia Sussex Corp. Secures $75M Loan For Quincy Hotel - J.P. Morgan Chase

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FINANCED
$75,000,000

Massachusetts

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FINANCED

Columbia Sussex Corp. Secures $75M Loan For Quincy Hotel - J.P. Morgan Chase

1000 Marriott Dr, Quincy, MA, 02169

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Summary

MASSACHUSETTS
Asset Type:Hotel
Transaction Type:Loan

The Boston Marriott Quincy, a 466-room hotel located at 1000 Marriott Dr in Quincy, MA, 02169, has undergone acquisition and renovation financed by $75 million from Square Mile Capital Management and JPMorgan Chase. The hotel boasts amenities such as a fitness center, indoor swimming pool, business center, and 16,000 square feet of renovated meeting space.

Summary of transaction details:

Lawrence Britvasn and Matt Jacobs of Hodges Ward Elliot in New York were the key individuals who arranged the financing for Columbia Sussex Corp., a privately owned hotel owner and operator based in Crestview Hills, Ky. The company holds a portfolio of more than 13,000 rooms, establishing a significant presence in the hospitality industry.

Players

Lawrence Britvan
6 deals$1.1B volume(212) 984-8098
BROKER

Matt Jacobs
CBRE
3 deals$183M volume(650) 743-5577
BROKER

Hodges Ward Elliott
BROKERAGE




Details

FINANCED
IMAGE: 1000 Marriott Dr, Quincy, MA, 02169 MARKET: Quincy ASSET TYPE: Hotel BORROWER'S REP: Lawrence Britvan(CBRE), Matt Jacobs(CBRE) BORROWER: Columbia Sussex Corp. LENDER: J.P. Morgan Chase & Company LOAN AMOUNT: $75,000,000.00

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$75,000,000.00

Monthly NOI$500,000.00
Monthly Debt Service$474,051.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00