Washington Trust Provides $13.5M Loan for Refinancing of Long Island Hotel

by Taylor Williams

COMMACK, N.Y. — The commercial real estate group of community bank Washington Trust has provided a $13.5 million loan for the refinancing of a 143-room Hampton Inn hotel located in Commack, a city on Long Island. The five-story hotel, which was built in 1988, is situated near the Long Island Expressway and offers standard amenities such as a pool, fitness center, a business center and meeting space. The borrower, an affiliate of hospitality owner-operator Chartwell Hotels, will use part of the proceeds to upgrade the lobby, refurnish the guestrooms and expand the exercise room. Specific loan terms were not disclosed.

You may also like