Trinity Street Capital Partners announces the origination of a high leverage, construction loan on a Staybridge Suites hotel, in Grandville, MI.

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Trinity Street Capital Partners announces the
origination of a high leverage, construction loan
on a Staybridge Suites hotel, in Grandville, MI.
1888 Press Release - Trinity Street Capital
Partners (TSCP), a full service real estate
investment bank, announces the origination of a
10MM, 75 loan-to-cost, construction loan for
the development of a 109 key, Staybridge Suites,
located in Grandville, MI. New York, NY -
Trinity Street Capital Partners (TSCP)
(www.trinitystreetcp.com), a full service real
estate investment bank, announces the origination
of a 10M, 75 loan-to-cost, construction
facility for the development of a 109 key,
Staybridge Suites, extended stay hotel, located
in Grandville, MI. The construction/ mini-perm
loan was for 75 of cost, had a 5 year term, with
a 2 year extension option. The Staybridge
Suites is a proposed 4-story, 109-room, interior
corridor, extended-stay lodging facility that is
currently under development and will feature all
basic services for a property of this type. It
will offer amenities including complimentary
breakfast, lounge, fitness facility, business
center, sundries shop, meeting space, indoor
pool, patio with BBQ grills, vending and ice
machines. The subject is located one mile east of
Interstate 196, which provides accessibility into
Downtown Grand Rapids, and to Interstate 96 to
the north and Interstate 94 to the south.
Proximate to the hotel is a variety of retail and
restaurant options, including RiverTown Crossings
Shopping Mall. Staybridge Suites is an
all-suite, residential-style brand of hotels
within the InterContinental Hotels Group (IHG).
The brand targets extended-stay and corporate
travelers. There are over 200 Staybridge Suites
hotels open in the United States, Canada, Mexico,
Europe and South America. The first Staybridge
Suites opened in Alpharetta, Georgia, U.S. in
1998. When the 132-suite Staybridge Suites
Liverpool hotel opened in June 2008 it became the
brand's first property outside North America and
the first extended stay hotel chain to debut in
Europe. Over the years, Staybridge Suites was
ranked highest in the extended-stay segment
according to the J.D. Power and Associates Hotel
Guest Satisfaction Study, named Best in Customer
Satisfaction by Market Metrix,
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LLC for superiority in customer satisfaction
among all upscale hotel brands and Business
Travel News rated Staybridge Suites as the top
upscale extended stay brand in their 2011 U.S.
Hotel Chain Survey. Trinity Street Capital
Partners focuses on non-recourse, high leverage
senior subordinate non-recourse commercial
mortgages, construction loans and real estate
private equity, with investments starting at 5MM
on income producing retail, office, industrial,
multifamily, manufactured housing communities,
self-storage and hospitality properties, located
throughout the fifty states. For more
information about Trinity Street Capital Partners
and the services it provides, go to
www.trinitystreetcp.com.