MCKINNEY, TEXAS — Metropolitan Capital Advisors has arranged a $15 million non-recourse construction loan for a dual-branded SpringHill Suites by Marriott and Home2 Suites by Hilton located in McKinney. The six-acre parcel of land is located just off the northwest corner of Eldorado Parkway and North Central Expressway. The transaction featured a non-recourse first lien mortgage and a second lien funded with EB-5 capital. A regional bank provided the loan. Three separate undisclosed firms will team up as the developer for the project, with differing levels of involvement with regard to the completion guarantee and the management of hotel operations. The project also features a partnership between two undisclosed general contracting companies.
The dual-branded hotel will be located just off the northwest corner of Eldorado Parkway in McKinney.
Metropolitan Capital Advisors Secures $15M Construction Loan for Dual-Branded Hotel in McKinney
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