Greysteel Facilitates $14.91 Million Refinancing for Hilton Garden Inn Green Bay
The refinancing of the Hilton Garden Inn Green Bay by Greysteel ensures operational flexibility and favorable terms for Beechwood Hotel Group, highlighting the robust financing market for prime-location hotels.
Greysteel announced the successful refinancing of the Hilton Garden Inn Green Bay, securing a $14.91 million First Perm Loan from Fox Communities Credit Union. This strategic move provides Beechwood Hotel Group with a floating rate structure, reducing capital costs as Federal Reserve rates decrease, and avoids potential penalties by addressing the property's CMBS loan maturity in advance.
The Hilton Garden Inn, located near Lambeau Field and other key attractions, benefits from recent renovations enhancing its appeal to both leisure and business travelers. Stephen Haase, representing Beechwood Hotel Group, emphasized the transaction's significance in securing a loan structure that supports current needs and future growth, thanks to the property's prime location and strong performance.
Fox Communities Credit Union's involvement underscores the vitality of Wisconsin's hospitality sector, with the Hilton Garden Inn Green Bay remaining a cornerstone of the Lambeau Field Stadium District. The refinancing reflects the competitive lending environment for well-performing hotels in desirable locations.