Courtyard Marriott Paramus

Location: Paramus, NJ
Type: Hospitality
Price: $ 14,000,000

SMC has provided a $14,000,000 loan for the refinance of the Courtyard Marriott Paramus, a 4-story, 154-room, limited service hotel offering meeting space, a business center, health and fitness center and an indoor pool. The Property is located along the Garden State Parkway in Paramus, approximately 10 miles northwest of New York City. Newark International Airport is located approximately 20 miles south of the Subject. The property was developed by the sponsor in 2010, and within a year of being open had already outperformed its peer set in terms of occupancy and revenue per available room.