Robert Bhat Of Marcus & Millichap Secures $8.94M Refinancing Loan For Wyndham Garden Norfolk

The transaction involves a hotel asset located at 700 Monticello Avenue in Norfolk, VA. This asset is categorized as a hotel with a total of 354 keys. The refinancing loan amount secured for this property is $8,940,000, and it is a non-recourse loan with a 5-year term at an interest rate of 7%.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $8,940,000
• Loan Type: Refinance
• Address: 700 Monticello Avenue
• Market: Norfolk, VA
• Keys: 354
• Broker: Robert Bhat - Marcus & Millichap

Marcus & Millichap Capital Corporation arranged the refinancing of the Wyndham Garden Norfolk Downtown. Robert Bhat secured financing for a private client through a global investment bank, facilitating investment in the hospitality sector of downtown Norfolk.