$14M Loan Arranged For SpringHill Suites Hotel In Centreville VA By Robert Bhat Of Marcus & Millichap

The property involved is a hotel asset located at 5920 Trinity Parkway in Centreville, VA, featuring 136 keys. The financing secured for the property was $14,000,000 with a loan structured for a term of 5 years and an interest-only payment plan at a rate of 6.8%, reflecting a loan-to-value ratio of 65%.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $14,000,000
• Address: 5920 Trinity Parkway
• Market: Centreville, VA
• Keys: 136

The loan was arranged by Marcus & Millichap Capital Corporation, which played a crucial role in facilitating the financing from a national bank. The broker representing the lender in this transaction was Robert Bhat from Marcus & Millichap.