CooperWynn Capital Secures $32 Million Financing for Suburban Capital's Extended-Stay Portfolio Expansion in Virginia
💰 CooperWynn Capital secured $32 million financing for Suburban Capital in Park City, Utah, refinancing four WoodSpring Suites properties and acquiring a fifth. This expanded their Virginia portfolio to 610 keys across five locations: Lynchburg, Roanoke, Yorktown, Richmond, and Ashland. The $32 million deal involved a national life insurance lender. The Richmond North property was acquired in Ashland, opened in August 2023. All properties, built in 2022 or later, show a debt yield over 15%.
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