$17.2 MILLION LOAN PROCURED FOR CHARLESTON HOLIDAY INN RENOVATIONS

by admin

CHARLESTON, S.C. — Walker & Dunlop has provided $17.2 million in non-recourse construction financing for renovations to the Holiday Inn located at the intersection of Calhoun and Meeting streets in downtown Charleston's Historic District. Noble Investment Group, which acquired the 126-room property earlier this month, plans to add 50 units and 5,000 square feet of meeting space to the hotel. It will also be rebranded as a Courtyard by Marriott. The loan carries a 5-year term with 2 years interest-only payments as well as a 25-year amortization schedule. Andrew Coleman of Walker & Dunlop led the team that procured the financing.

You may also like