News: Financial Digest
Posted: December 13, 2007
Q10|NERR places $8.75 million in financing on 104-room hotel
According to James Murphy of Q10|New England Realty Resources, financing has recently been placed on a hotel.
Q10|New England Realty Resources represented the borrower in securing $8.75 million in permanent financing for the Hawthorn Suites Hotel, a 104-room, one and two bedroom suite hotel, located at 401 Dorset St.
Q10/NERR worked successfully with PNC Real Estate to fund this loan during a period of extraordinary volatility in the capital markets. The funding provided for full proceeds as requested by the Borrower and utilized "split-level rate lock" protection to help ensure a favorable outcome.
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