REBusinessOnline

MARCUS & MILLICHAP ARRANGES HOTEL FINANCING

MARS, PA. — Travis Fite and Peter Dunn of Marcus & Millichap have arranged $5.62 million in financing for the Comfort Inn Cranberry Township in Mars. Located at 824 Sheraton Dr., the hotel contains 103 guestrooms. The loan was provided through a commercial mortgage lender at a 6.5 percent interest rate and a 75 percent loan-to-value ratio. It is fixed with a 10-year term and a 30-year amortization schedule.

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