Concord Summit Capital Secures $12.2M Construction Loan for ECHO Suites Hotel in Chandler, Arizona

CHANDLER, ARIZ. — Concord Summit Capital has arranged a $12.2 million construction loan for the development of ECHO Suites Extended Stay by Wyndham at Chandler Airport Center. The borrower is Richmond, Va.-based The Sandpiper Group of Cos., which is expanding its brand across the western United States. Located in Chandler, the four-story project will offer 124 guest rooms. ECHO Suites has nearly 270 hotels in its pipeline nationwide. Robert Horton, John Choi and Connor Martz of Concord Summit structured the financing for the borrower, which is a repeat client. Last year, Concord Summit secured financing for the client for an ECHO Suites project in Peoria, Ariz.