$7M in financing for Hampton Inn Cleveland Airport secured

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Holliday Fenoglio Fowler, L.P. has secured $7 million in financing for the Hampton Inn Cleveland Airport-Tiedeman Road, an 81-room, select-service property in the Cleveland suburb of Brooklyn, Ohio, according to rejournals.com.

HFF worked on behalf of the borrower, Everest Hospitality LLC, an affiliate of the C/N Group, to place the 10-year, fixed-rate loan with Starwood Mortgage Capital. Loan proceeds will be used to acquire the property and complete renovations.

Located at 10305 Cascade Crossing, Hampton Inn Cleveland Airport-Tiedeman Road is four miles east of Cleveland Hopkins International Airport, the largest airport in Ohio, and 10.6 miles west of downtown Cleveland.

From 2011 to 2014, the hotel underwent almost $500,000 in renovations, including a new lobby, carpet and upgrades to cooling, Wi-Fi and security systems. Features include an indoor pool, fitness center, business center and 1,128 square feet of meeting space.

The HFF debt placement team representing the borrower was led by associate director Jason Bond and managing director Daniel Kaufman.
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