HALL Structured Finance Closes $14.7M Construction Loan for Hotel in Newark, Delaware

NEWARK, DEL. — HALL Structured Finance has closed a first lien construction loan totaling $14.7 million for the development of a SpringHill Suites by Marriott in Newark. Danneman Hospitality is developing the hotel, which will be the first SpringHill Suites in the state. The property will have 118 one-room suites and seven two-room suites. Amenities at the five-story property will include a breakfast dining area, lobby, bar, three meeting rooms, an indoor pool, fitness center, laundry room, marketplace and on-site restaurant.