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HFF Arranges $45M Refinancing for Marriott-Branded Portfolio

NEW YORK—Holliday Fenoglio Fowler L.P. (HFF) has arranged a $45-million refinancing for a portfolio comprising four Marriott-branded hotels totaling 441 rooms in Nashville, TN, College Station and Round Rock, TX.

HFF worked on behalf of the borrower, Wheelock Street Capital LLC, to place the three-year, floating-rate loan with two one-year extensions with a national bank. The loan was used to take out existing acquisition financing and provide capital to continue the borrower’s property improvement plan, according to the company.

The portfolio, which the borrower acquired in 2013, comprises the 125-room Courtyard Marriott in College Station; 113-room Courtyard Marriott in Round Rock; 94-room Courtyard Marriott Opryland; and 109-room Fairfield Inn & Suites Opryland.

The HFF debt placement team working on behalf of the borrower included Steven Klein, managing director; Casey Wenzel, director; and Rory Shepard, associate.

“A large part of the success of this transaction is attributable to Wheelock’s ability to increase the hotels’ performances through both their institutional ownership and deep knowledge of improving and operating hotel portfolios as well as the strategic locations next to significant demand drivers in their respective submarkets,” Klein said.

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