Mag Mile Capital Provides $5.5M CMBS Acquisition Loan for Fredericksburg Hotel
FREDERICKSBURG, TEXAS — Chicago-based Mag Mile Capital has provided a $5.5 million CMBS loan for the 78-room Fairfield Inn & Suites by Marriott hotel in Fredericksburg, about 80 miles west of Austin. The property offers a pool and a fitness center. The loan carried a sub-5 percent interest rate and a 30-year amortization schedule. The borrower was not disclosed.