RobertDouglas represented Flynn Properties, as the exclusive advisor, in arranging a $54-million refinancing of a six-hotel Courtyard by Marriott portfolio.
The Marriott-managed portfolio includes the144-key Courtyard Fairfax Fair Oaks in Fairfax, VA; 146-key Courtyard Baltimore Hunt Valley in Hunt Valley, MD; 150-key Courtyard New Carrollton Landover in Landover, MD: 158- key Courtyard Philadelphia Plymouth Meeting in Plymouth Meeting, PA; 145-key Courtyard San Antonio Airport; and 146-key Courtyard San Antonio Medical Center.
“First, we’d like to give a big thank you to the Flynn Properties team,” said Matt Dower, RobertDouglas managing director. “They played an invaluable role in this transaction and showed just how important an experienced and institutional sponsorship can be to bringing out the best in market terms.”
Andrew Heilmann, RobertDouglas SVP, added, “This portfolio is the exact opportunity lenders are looking for: strong sponsorship; diversified locations in established markets; substantial in-place revenue and cash flows; and recent renovations. We are so happy we could achieve a refinancing solution to support both near and long-term investment decisions.”
