NorthMarq Capital’s Phoenix office arranges acquisition financing of $2.465M for Comfort Inn & Suites in Lordsburg, NM

Griffin Martin, vice president of NorthMarq Capital’s Phoenix based regional office arranged acquisition financing of $2.465 million for a 64-unit Comfort Inn & Suites property located at 400 Wabash Street in Lordsburg, New Mexico. NorthMarq arranged financing for the borrower through its relationship with a regional bank.

Comfort Inn and Suites NM

“We provided high-leverage financing for both the acquisition and property improvements,” said Martin. “In addition to the high-leverage request, we also had to complete the transaction in a very short timeframe while exceeding the borrower’s interest rate expectations.”

 

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