ValueXpress Arranges $5.4-Million CMBS Conduit Loan for the Refinance of a 75-Room Candlewood Suites in Kingwood, TX

ValueXpress has arranged a $5.4-million CMBS conduit loan commitment for the refinance of a Candlewood Suites constructed in 2010 located in the Kingwood section of Houston, TX.   The property is a 3-story, 75-room extended-stay interior-corridor hotel constructed by the sponsors to Candlewood Suites brand standards.

The hotel, located near George Bush Intercontinental Airport, provides a free shuttle that runs to the airport and anywhere else within a five-mile radius of the hotel. Kingwood Medical Center, Administaff, Chevron-Phillips Chemical and Westronics are all easily accessible from the hotel, which is location off Highway 59.

The property features a host of complimentary amenities, such as guest laundry services, a fitness center with TV and high-speed wireless Internet access.

The loan provides for a 10-year term with a 25-year amortization schedule and is non-recourse. Financing was provided by an active CMBS conduit lender that has an ongoing relationship with ValueXpress to arrange additional CMBS conduit loans.

This entry was posted in CMBS, CMBS Conduit Loans, Commercial Real Estate Loans, Michael D. Sneden, News & Recent Closings, The Banker's Mortgage Conduit, Valuexpress and tagged , , , , . Bookmark the permalink.

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