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.
