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NORFOLK, VA. — Marcus & Millichap Capital Corp. (MMCC) has arranged $9 million in refinancing for Wyndham Garden Norfolk Downtown, a 354-room hotel located near Norfolk International Airport. Robert Bhat of MMCC’s Miami office secured the loan with a global investment bank on behalf of the borrower, an unnamed private client. The five-year, non-recourse loan includes a 7 percent interest rate and was structured with an interest-only term.
Wyndham Garden Norfolk Downtown features amenities such as a seasonal swimming pool, fitness center, guest laundry facilities, an ATM, bar and business center.