PARK CITY, Utah—CooperWynn Capital announced the loan modification for the Doubletree Suites Fort Shelby on behalf of the ownership group. The Doubletree Suites is located in downtown Detroit, Michigan, and has 203 suites, over 18,000 square feet of meeting space, three food and beverage outlets, and a fitness center. The modification allows ownership to maintain their current loan while replacing covenants while property fundamentals improve.
“Given the increasing operating performance of the hotel, we embarked on a comprehensive marketing process to provide the best options for ownership. After evaluating all opportunities, the incumbent lender was able to provide the solution most advantageous to the owners,” said Marc Sallette, principal, CooperWynn Capital.
