The 97-key boutique hotel marks the most recent acquisition for the group as part of its plans to acquire $300 million in hospitality assets across the U.S.
JLL worked on behalf of the borrower, Sterling Organization, to secure the five-year, fixed-rate loan.
JLL Capital Markets arranged the financing for the distribution, cold storage and office building
JLL worked on behalf the seller, Iron River Management on behalf of CF Partners Ltd., to complete the sale to the buyer, Keasbey, NJ-based Landmark Companies.
JLL marketed the property on behalf of the seller, Aligned Bayshore Marina, LLC. Suntex Ventures, LLC purchased the asset.
Bank of America purchased the asset on behalf of a client, and JLL will lease the property for the new owner.
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