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HFF secures $10.65M financing for Hampton Inn near Burlington, VT
 
 

BOSTON, MA - June 10, 2013 – HFF announced today that it has secured $10.65 million in financing for the Colchester Hampton Inn, a 187-room, limited-service hotel in Colchester, Vermont.

Working exclusively on behalf of Linchris Hotel Corporation, HFF placed the long-term, fixed-rate first mortgage with People’s United Bank. Loan proceeds were used to refinance the existing loan and fund closing costs.

The Colchester Hampton Inn is located at 42 Lower Mountain View Drive just off Interstate 89 and across from the Park at Water Tower Hill, home to companies including KPMG, Fletcher Allen Health Care and WPTZ Channel 5. The property is also convenient to both downtown Colchester and Burlington, Lake Champlain, Malletts Bay, Centennial Field, Fletcher Allen Medical Center, The Burlington International Airport and five area colleges and universities. The hotel features 6,264 square feet of conference space, an exercise facility and a 5,000-square-foot freestanding restaurant leased to the Lighthouse Restaurant.

The HFF team representing Linchris Hotel Corporation was led by director Greg LaBine.

“Due to the multiple demand drivers in the area, this hotel continued to exhibit strong performance even through the economic downturn,” said LaBine. “Further, Linchris’ exceptional management ability drives better than average bottom line performance throughout their entire portfolio. Those two factors made this an attractive loan opportunity for People’s United Bank.”

Headquartered in Hanover, Massachusetts, Linchris Hotel Corporation is a hotel management company with an outstanding reputation for high-quality and first-rate service. The company controls 29 hotels with more than 3,000 rooms.

People's United Bank is a subsidiary of People's United Financial, Inc., a diversified financial services company with $30 billion in assets. People’s United Bank, founded in 1842, is the largest independent bank headquartered in New England and provides commercial and retail banking, as well as wealth management services through a network of approximately 417 branches in Connecticut, Massachusetts, Vermont, New York, New Hampshire and Maine. Through its subsidiaries, People's United Financial provides equipment financing, brokerage and insurance services.

HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.

Contacts:

 

 

GREG LABINE KRISTEN MURPHY  
HFF Director HFF Associate Director, Marketing
(617) 338-0990 (617) 848-1572
glabine@hfflp.com krmurphy@hfflp.com
 
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