JLL Capital Markets Arranges Financing for Twin-Emblem Building

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PHOENIX—JLL Capital Markets introduced that it has organized $24.5 million in building financing for the advance of the dual-branded Fairfield Inn and TownePlace Suites, a 148-key, select-service resort in Tempe, Arizona. JLL labored on behalf of the borrower, EKN Building Workforce, to protected the three-year, floating-rate mortgage thru Corridor Structured Finance.

The four-story assets will characteristic 83 keys within the Fairfield Inn and 65 keys for TownePlace Suites. The twin-branded resort will be offering a spread of facilities, together with a cafe, bar and living room, gymnasium, pool, sizzling bath, and extra.

The resort can be situated lower than a mile from the Arizona State College campus in Tempe on the southwest nook of East Rio Salado Expressway and South Smith Street. As well as, Fairfield Inn and TownePlace Suites can be 5.8 miles from the Phoenix Sky Harbor Global Airport and is inside 5 miles of just about 30 million sq. toes of administrative center house. The web site has get entry to to Routes 101 and 202, which offer get entry to to a lot of the Phoenix Metro house. The valuables is inside strolling distance of an array of retail, eating, and leisure choices, together with Tempe Marketplace Position, Dave & Buster’s, Portillo’s Sizzling Canine, Spinato’s Pizzeria, and extra.

The JLL Capital Markets staff representing the borrower was once led through Senior Managing Director Jillian Mariutti, Director Robert Tonnessen, and Affiliate Phil Cadorette, with native reinforce supplied through Senior Director Carl Beardsley.

“JLL appreciates EKN Building Workforce for offering us the chance to prepare resort building financing on behalf of a powerful sponsorship,” stated Mariutti. “With the dual-branded idea, the venture will attraction to a lot of other demographics inside Tempe’s dynamic and rising marketplace. The versatile and inexpensive nature of the 2 manufacturers will allow them to persistently retain occupancy.”

JLL Capital Markets is a full-service world supplier of capital answers for actual property traders and occupiers. The company’s in-depth native marketplace and world investor wisdom ship answers for shoppers—whether or not funding gross sales and advisory, debt advisory, fairness advisory, or a recapitalization. The company has greater than 3,000 capital marketplace experts international with workplaces in just about 50 international locations.



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