Peoria hotel developer, Sandpiper Hospitality, closes on $12M construction loan for new 124-room ECHO Suites through Concord Summit Capital

11/13/2024

|

Connect CRE

• Subcategory: Capital Markets: Debt, Hospitality: Hotel

• Tag: Closing | New Construction

• Additional Filters-Subcategory: Capital Markets: Debt-Construction Loan

• Additional Filters-Tags: Hospitality: Franchise

• Company: Wyndham Hotels & Resorts (NYSE: WH)

Concord Summit Capital closed a $12.2 million construction loan to a developer planning a new 124-room extended-stay property in Peoria, northwest of Phoenix. Sandpiper Hospitality has an agreement with Wyndham Hotels & Resorts to develop dozens of locations throughout the U.S. for the hospitality company’s new mid-scale extended-stay brand ECHO Suites Extended Stay.