JLL SECURES $125M CMBS LOAN FOR HOTEL PORTFOLIO
ATLANTA — Jones Lang LaSalle's Hotels & Hospitality Group has secured a $125 million CMBS loan for a portfolio of 22 select-service, extended stay hotels on behalf of The Generation Cos. LLC. Bill Grice and Nick Baer of Jones Lang LaSalle arranged the non-recourse, floating-rate financing through a national bank. The Generation Cos. will continue to manage the 2,528-room portfolio, which is comprised of nine Candlewood Suites, seven Suburban Extended Stay Hotels, three Staybridge Suites, two Mainstay Suites and one Homewood Suites. The hotels are located in Virginia, North Carolina, Florida, Tennessee and Texas.