Mag Mile Capital Originates $9.9M CMBS Loan for Hotel Acquisition in Wisconsin

OCONOMOWOC, WIS. — Mag Mile Capital has originated a $9.9 million CMBS loan for the acquisition of a Staybridge Suites hotel in Oconomowoc. The 128-room property is located at 1141 Bule Ribbon Drive. Mac Dobson and Prabhat Jayara of Mag Mile Capital originated the loan on behalf of the borrower, KGNMP Hotels LLC. The 10-year, fixed-rate loan features a 5.75 percent interest rate and a 25-year amortization.