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Commack Hampton Inn

$14,900,000  |  Commack, NY

 

Background:

Owner/operator acquired and renovated the Commack Hampton Inn in 2008 and was seeking to refinance to reset the loan term and lower the interest rate to market.

 

Challenges:

  • The 1988-vintage box is 25 years old and is a risk, at some point before the loan amortization schedule ends, to be removed from the Hampton system.

Solution:

  • CHC understood the unusually high barriers to entry in the Suffolk County market with the value of the highway visibility and made a case for the difficulty in finding an equivalent site able to accommodate a 144-unit Hampton.

Outcome:

CHC advised on the 10-yr fixed-rate, non-recourse financing with a regional bank.

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