Courtyard by Marriott
The Courtyard by Marriott in York, PA, is a 4-story, 103 -room hotel located about 2 hours west of Philadelphia. On behalf of its client, Llenrock Group secured a total of $9,750,000 in permanent financing for the property. Though it is customary for lenders to review the prior 14-24 months of loss/profit data on a prospective property, the lender only reviewed the hotel’s data for the previous 12 months because of its strong performance.
“Our third deal with AVA Development has once again been a great success,” says Llenrock’s Founder and Principal, Andrew Benioff. “Even with the normal speed bumps you might hit in any transaction, the AVA team is always composed and cool under pressure. They are well organized and have the backup material needed to overcome any issue presented.”