Group 10 Hotel Portfolio

Location: Romulus, MI
Type: Hospitality
Price: $ 26,000,000

SMC has provided a $26,000,000 loan for the refinance of the Group 10 Hotel Portfolio, which consists of the following hotels, located in the Detroit Metropolitan Airport market in Romulus, MI: Fairfield Inn & Suites, a three-story, 106-room limited service built in 2007; SpringHill Suites, a four-story, 118-room limited service built in 2008; and Four Points by Sheraton, a seven-story, 175-room full-service built in 1986.The portfolio contains a total of 399-keys and was 74.6% occupied as of the trailing-12 month period ended 6/30/13.