ATLANTA, Georgia—Officials of Access Point Financial (APF) announced that the company has directly provided a $55 million loan to H&S Properties Development Corp. to refinance a four-hotel portfolio in Maryland. The four hotels include the dual-branded, 120-room Courtyard Aberdeen at Ripken Stadium/ 78-room Residence Inn Aberdeen at Ripken Stadium, and the dual-branded, 183-room Hilton Garden Inn Baltimore Inner Harbor/165-key Homewood Suites by Hilton Baltimore. The loan is a floating rate and has a four-year term and a one-year extension option. The monies will be used to refinance the existing debt on the properties and provide capital for a PIP.
“We were able to deliver a capital solution between both assets in this refinancing that gave the sponsor additional flexibility while also indulging in a personal passion for baseball and the Iron Birds who play at Ripken Stadium,” said Mike Lipson, APF. “We remain laser-focused on thoughtful sponsors with refinancing and CapEx needs that require a lender to meet them where they are in today’s marketplace. APF provides competitive, flexible solutions, and we are ready to do business with hotel owners.”
Courtyard Aberdeen at Ripken Stadium/Residence Inn Aberdeen at Ripken Stadium
Located in Aberdeen, Maryland, the dual-branded Courtyard/Residence Inn was designed as a replica of Oriole Park at Camden Yards, directly across from The Ripken Experience Aberdeen and close to I-95. In addition to Aberdeen Proving Ground, Susquehanna State Park, and Bulle Rock Golf Course, the hotels are situated near local businesses and major distribution centers, including Pepsi-Frito Lay, Wayfair, Webstaurant Store, Amazon, and Clorox. Shared amenities include two restaurants, one with outdoor seating overlooking Ripken Stadium, an indoor pool, a fully equipped fitness center with access to outdoor walking paths around the baseball fields, and 1,200 square feet of flexible meeting space.
Hilton Garden Inn Baltimore Inner Harbor/Homewood Suites by Hilton Baltimore
Situated steps from the Inner Harbor, the dual-branded hotel is within a mile of the National Aquarium, the Baltimore Convention Center, and Johns Hopkins Hospital, and less than two miles from Ravens football at M&T Bank Stadium and Orioles baseball at Camden Yards. The hotels provide a fitness center and on-site dining at the Garden Grille & Bar.
