Marcus & Millichap Capital Corporation Secures $15.2 Million Loan For Hilton Garden Inn Fairfax

The asset involved in the transaction is the Hilton Garden Inn Fairfax, a hotel located at 3950 Fair Ridge Drive, Fairfax, VA. This property boasts 149 keys and is a key player in the local hospitality market.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $15,190,000
• Market: Fairfax, VA
• Loan Amount: $15,190,000
• Keys: 149
• Broker: Robert Bhat - Marcus & Millichap
• Financing Type: Non-recourse
• LTV: 70%
• Interest Rate: 7%
• Term: 5 years
• Interest Structure: Full-term interest only

Marcus & Millichap Capital Corporation arranged the financing for the asset on behalf of a private client, utilizing a national investment bank to secure the loan. This transaction highlights the collaboration between the brokerage and a financial institution for effective capital solutions.