Holiday-Inn-Express

KeyBank Secures $10.2M in Financing for Two Missouri Hotel Properties

by Danielle Everson

KANSAS CITY, MO. — KeyBank Real Estate Capital has secured $10.2 million in non-recourse, CMBS first mortgage loans for two hotel properties in Kansas City. The first loan was used to refinance a 73-room, limited-service Holiday Inn Express & Suite. The property was acquired in 2006 as a Quality Inn and subsequently redeveloped into the current Holiday Inn Express & Suites. The second loan was used to refinance an 89-room extended stay Candlewood Suites. Randy Martin of KeyBank Real Estate Capital Markets arranged financing for both properties.

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