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NorthMarq Capital’s Louisville office closes $12 million refinance of Sheraton hotel

Staff Writer March 26, 2017
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Randall Waddell, senior vice president of NorthMarq Capital’s Louisville-based regional office, arranged the $12 million refinance of Sheraton Louisville Riverside Hotel, a 180-room property located at 700 W. Riverside Drive in Jeffersonville, Indiana.

The transaction was structured with a 10-year term on a 25-year amortization schedule.

NorthMarq arranged financing for the borrower, Sotherly Hotels, through its correspondent relationship with a life insurance company. Sotherly Hotels is a lodging REIT whose portfolio is comprised of upscale, full-service hotels in the Southern United States.

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