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WOODLAND, CALIF. — Arriba Capital has closed a $40.5 million ground-up construction loan for two adjacent hotel properties in Woodland.
The three-year loan was features an 80 percent loan-to-cost ratio. The two hotel developments include a four-story, 95-room, extended-stay Home2 Suites by Hilton and a five-story, 109-room Courtyard by Marriott.
Details of the financing, including the borrower’s name, were not released.