ATLANTA, Georgia—Officers of Access Point Financial (APF) introduced that the corporate has straight supplied a $55 million mortgage to H&S Properties Growth Corp. to refinance a four-hotel portfolio in Maryland. The 4 motels embrace the dual-branded, 120-room Courtyard Aberdeen at Ripken Stadium/ 78-room Residence Inn Aberdeen at Ripken Stadium, and the dual-branded, 183-room Hilton Backyard Inn Baltimore Interior Harbor/165-key Homewood Suites by Hilton Baltimore. The mortgage is a floating charge and has a four-year time period and a one-year extension possibility. The monies will probably be used to refinance the prevailing debt on the properties and supply capital for a PIP.
“We had been capable of ship a capital resolution between each belongings on this refinancing that gave the sponsor further flexibility whereas additionally indulging in a private ardour for baseball and the Iron Birds who play at Ripken Stadium,” mentioned Mike Lipson, APF. “We stay laser-focused on considerate sponsors with refinancing and CapEx wants that require a lender to satisfy them the place they’re in in the present day’s market. APF offers aggressive, versatile options, and we’re able to do enterprise with lodge homeowners.”
Courtyard Aberdeen at Ripken Stadium/Residence Inn Aberdeen at Ripken Stadium
Situated in Aberdeen, Maryland, the dual-branded Courtyard/Residence Inn was designed as a duplicate of Oriole Park at Camden Yards, straight throughout from The Ripken Expertise Aberdeen and near I-95. Along with Aberdeen Proving Floor, Susquehanna State Park, and Bulle Rock Golf Course, the motels are located close to native companies and main distribution facilities, together with Pepsi-Frito Lay, Wayfair, Webstaurant Retailer, Amazon, and Clorox. Shared facilities embrace two eating places, one with out of doors seating overlooking Ripken Stadium, an indoor pool, a totally outfitted health middle with entry to out of doors strolling paths across the baseball fields, and 1,200 sq. toes of versatile assembly area.
Hilton Backyard Inn Baltimore Interior Harbor/Homewood Suites by Hilton Baltimore
Located steps from the Interior Harbor, the dual-branded lodge is inside a mile of the Nationwide Aquarium, the Baltimore Conference Middle, and Johns Hopkins Hospital, and fewer than two miles from Ravens soccer at M&T Financial institution Stadium and Orioles baseball at Camden Yards. The motels present a health middle and on-site eating on the Backyard Grille & Bar.
