CANONSBURG, PA. — A joint venture between Horizon Properties Group and Madison Realty Group has procured $12.8 million in acquisition and development financing from Indiana, Pa.-based S&T Bank. Part of the loan will be used for the construction of a new Cambria Suites hotel to be built on Racetrack Road in North Strabane Township, Canonsburg. The site is situated at the entrance to a Tanger Outlets retail center and across from the Meadows Racetrack & Casino. The other part of the loan will be used for the acquisition of an existing 27,500-square-foot office building located adjacent to the proposed hotel site. Terms of the financing, as well as the construction timetable, were not released.