Marriott Hotel – Huntsville, AL

February 20, 2007 - Union Capital Investments, LLC provided permanent financing in the amount of $30,000,000 for the refinance of the Marriott Hotel in Huntsville, Alabama. The 5.86% fixed rate loan is based on a 78% as-is loan-to-value, with debt service coverage of 1.40. The loan is for a 10-year term with 30-year amortization, with prepayment allowed at par during the last four months of the loan term. The Borrower developed Marriott Huntsville in 1989 and has owned and operated it continuously. The Borrower has significant experience owning and operating hotels, with nine hotels currently under ownership. 

Marriott Huntsville, a seven-story, 290 room full-service hotel, was constructed in 1986 and is located adjacent to the U.S. Space & Rocket Center. Amenities include two restaurants, a sports bar, an indoor/outdoor pool, spa, sauna, two fitness centers, a business center, a concierge level, and 12,506 square feet of meeting and banquet facilities. The Marriott Huntsville is the dominant hospitality facility in the Huntsville area due to its excellent location and its meeting facilities. Since 2002, the Huntsville Marriott has completed significant capital improvements, keeping the quality and condition of the hotel in line with new Marriott facilities.