Officials of Access Point Financial, a direct capital provider focused exclusively on the hospitality industry, have directly provided a $55 million loan to Baltimore-based 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 and the 78-room Residence Inn Aberdeen at Ripken Stadium as well as the dual-branded, 183-room Hilton Garden Inn Baltimore Inner Harbor and the 165-key Homewood Suites by Hilton Baltimore. The loan is floating rate and has a four-year term and one-year extension option. The monies will be used to refinance the existing debt on the properties and provide capital for a property improvement plan.
“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,” Mike Lipson of APF said in a statement. “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
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 convenient to 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, 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.