Hospitality Funding Closes $14M Construction Loan for Everhome Suites Extended Stay by Choice Hotels in Yuma, AZ
Yuma, AZ - Hospitality Funding, Inc is pleased to announce the closing of a $14M construction loan for Everhome Suites Extended Stay by Choice Hotels in Yuma, AZ.
The 122 key property is located in the heart of Yuma, AZ which was named Arizona’s Best Historic Main Street Community. The property is being developed by HighSide Companies, a Denver based development firm with more than 100 years of commercial real estate experience.
Everhome Suites Extended Stay is offering a fresh take on New Construction Midscale Extended Stay, providing familiar conveniences like fully equipped kitchens, 24-hour on-site laundry facilities, modern fitness centers with Peleton bikes, and access to snacks at their 24-hour Homebase Market. Their spacious and flexible design allows for customization within the one-bedroom suite, creating well-defined areas for both working and unwinding.
“Midscale extended stay is one of the fastest growing segments in the hotel industry. The Everhome Suites brand is in high demand with 75+ hotels in the pipeline” says CEO of Hospitality Funding, Inc, Scott Silver. “We are pleased to provide these executions for Choice and value our relationship with them”.
About Hospitality Funding, Inc
Hospitality Funding, Inc. is a boutique investment advisory firm focused on raising equity, mezzanine, and debt financing for the acquisition of all types of hospitality assets. Hospitality Funding works with superior sponsors to find capital solutions that fit their specific goals for property acquisitions. For more information, please visit www.hospitalityfunding.com.
About Choice Hotels
Choice Hotels International, Inc. (NYSE:CHH) is one of the largest and most successful lodging franchisors in the world. With more than 7,000 hotels, representing nearly 570,000 rooms, in over 40 countries and territories as of December 31, 2018, the Choice® family of hotel brands provides business and leisure travelers with a range of high-quality lodging options from limited service to full-service hotels in the upscale, midscale, extended-stay and economy segments. The award-winning Choice Privileges® loyalty program offers members benefits ranging from everyday rewards to exceptional experiences. For more information, visit www.choicehotels.com.
About HighSide Companies
Highside Companies is a collective of dedicated and experienced teams offering expertise in every aspect of the commercial real estate lifecycle across the United States. Highside consists of three companies: Development, Investment and Project Management, along with a selection of additional services for a tailored approach to the completion of a successful real estate development project. From initial strategic portfolio planning, to project capitalization, through completion and future capital expenditure planning, HighSide expertly and comprehensively manages the risk and opportunity of each asset. HighSide Companies is based in Denver, Colorado.