The Simon Konover Company has secured a $15 million five year, fixed rate loan to refinance a portfolio of five hotel properties located in Michigan. The portfolio consists of three Holiday Inn Express brands, one Hampton Inn and a Super 8. Financing was provided by Standard Insurance Company.
“This portfolio recapitalization enables us to further our strategic expansion in certain select service hospitality assets and to enhance the exceptional experience we seek for our guests,” said James Wakim, President and Chief Operating Officer of The Simon Konover Company.
Affiliates of The Simon Konover Company own and operate the five hotels, including the Holiday Inn Express & Suites Roseville, the Holiday Inn Express Adrian, the Holiday Inn Express Marshall, the Hampton Inn Marshall and the Super 8 Adrian. Konover Hotel Corporation manages all five hotels.