Dealmaker: Hall Structured Finance Originates $43M Hotel Construction Loan

Hall Structured Finance, Dallas, closed a $43.3 million first lien construction loan to build a Springhill Suites Hotel in Revere, Mass.

Bill Carroll, President of 1 Financial Corp., Cincinnati, sourced the financing.

Commercial Observer reported Lixi Group was the borrower. The Mount Laurel, N.J., developer is building the 168-guestroom hotel adjacent to the Wonderland train station, providing access to Boston Logan International Airport.

Located on Revere Beach five miles from Boston, the four-story hotel has Atlantic Ocean views and immediate access to Ocean Avenue. Amenities will include a fitness center, a 144-seat oceanfront restaurant, a Starbucks and a dedicated meeting space.

Hall Structured Finance President Mike Jaynes noted the hotel’s meeting space, oceanfront views and proximity to Boston’s central business district. “These factors, along with the backing of Marriott’s strong loyalty program, made this an ideal project for us to finance,” he said.

Real Capital Analytics, New York, ranked HSF the top non-bank hotel construction lender in the U.S. last year.