Courtyard Marriott in Springfield gets $17.5 million in financing
- June 21, 2011
Jones Lang LaSalle has secured a $17.5 million loan for Regua Limited Partnership’s Courtyard by Marriott in Springfield. Built in 2001 and located at the intersection of I-95, I-495 and I-395, the 107,771 square-foot property has 191 units and was recently renovated. The firm secured a seven-year, fixed-rate non-recourse loan from Northwestern Mutual Life.
Leading the Jones Lang LaSalle Capital Markets team on the transaction was Managing Director Wes Boatwright, Senior Vice President Jon Goldstein and Vice President Jim Gladden. “The hotel is a market leader and benefits from the government contracting sector due to its close proximity to Fort Belvoir. Demand will only increase with the opening of the new 2.4 million-square-foot headquarters for the National Geospatial Intelligence Agency, which is just down the road,” Goldstein said in a statement.