WICHITA, KS—U.S. Bank has provided Value Place with a new, $34-million five-year term loan to refinance a group of its corporate-owned hotels.
The 10 properties being refinanced are located in Wichita; Oklahoma City; Del City, OK; Fayetteville, NC; Lubbock, TX; Brownsville, TX; and Pensacola, FL.
“Our growing relationship with U.S. Bank dates to November of 2010, and since then they’ve also financed the 22 operating properties we acquired from Angelo, Gordon & Co.,” said Kyle Rogg, COO of Value Place. “With our rapidly growing portfolio of owned properties, it’s important to have a strong partner on which we can depend, and we are pleased that U.S. Bank continues to show confidence in Value Place’s strategy, performance and management.”