NorthMarq’s Phoenix office arranges acquisition financing of $5.5 million for Ramada Inn located in Tempe, Arizona
PHOENIX, ARIZONA (December 12, 2019) – James DuMars, senior vice president/managing director and Griffin Martin, senior producer/vice president of NorthMarq’s Phoenix office negotiated acquisition financing of $5.5 million for a Ramada Inn. The hospitality property is located at 1635 North Scottsdale Road.
Financing Details:
- 15-year term
- 30-year amortization schedule
- Permanent-fixed loan
- NorthMarq arranged financing for the borrower through its relationship with a regional bank.
Property Details:
- The property contains 140 rooms.
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