PHILADELPHIA, PA

Llenrock Group, an independent real estate finance and advisory firm, is pleased to announce it has secured $5,175,000 in financing for the 102-suite Residence Inn Philadelphia Airport. The deal proved challenging due to the planned conversion of the property to a Hawthorn Suites by Wyndham. On behalf of its client, Elpizo Group, Llenrock secured a three-year bridge loan in order to stabilize the asset under its new brand before ownership seeks additional financing. Llenrock Group Founding Partner Andrew Benioff comments, “This deal proved challenging because the hotel, despite its current efficiency and profitability, came with the uncertainty of a future rebranding. It was important to inform the lender of the asset’s current and future performance. Our client was extremely organized and patient throughout this difficult refinancing process.” The hotel is located approximately 9 miles from Center City Philadelphia. It is only one mile from Philadelphia International Airport, one of the busiest airports in the United States with over 14.5 million passenger enplanements in 2012.

Llenrock Group Founding Partner Andrew Benioff comments, “This deal proved challenging because the hotel, despite its current efficiency and profitability, came with the uncertainty of a future rebranding. It was important to inform the lender of the asset’s current and future performance. Our client was extremely organized and patient throughout this difficult refinancing process. ”

The hotel is located approximately 9 miles from Center City Philadelphia. It is only one mile from Philadelphia International Airport, one of the busiest airports in the United States with over 14.5 million passenger enplanements in 2012.

Llenrock Group Closes On $5 Million Permanent Financing For Philadelphia Airport Hotel