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Permanent Financing

Hampton Inn and Suites Parsippany/North
Parsippany, NJ

The Hampton Inn and Suites North is one of two such hotels in Parsippany, NJ, not far from New York City. The new, 87-room hotel was secured through $6,450,000 of permanent financing from Bank of America Merrill Lynch. The deal was completed quickly thanks to the hotel’s strong performance and advantageous market.

Andrew Benioff, Founder and Managing Partner of Llenrock Group, comments, “It has been a pleasure to work with AVA Development for the second time in 12 months on a successful closing. The property is operating at a very high level and the AVA team is very sharp and well organized.”

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