PHOENIX – October 5, 2017 – Berkadia today announced the $26.5 million mortgage financing for a portfolio of hotel properties, including the Springhill Suites San Antonio, the Hotel Indigo Atlanta and the Courtyard Jacksonville. Director Adrienne Kautzman of Berkadia’s Phoenix office originated the refinancing loan on behalf of Condor Hospitality Trust, Inc., a hotel-focused real estate investment trust. The deal closed on October 4.
“Berkadia was excited to work with the team at Condor Hospitality Trust as they continue to deliver for shareholders by strengthening their balance sheet and investment platform,” said Kautzman. “The team’s extensive mortgage banking knowledge and relationships allowed us to grow Condor’s financing partners and increase credit facility availability for future acquisitions.”