GE Capital, Franchise Finance Provides $49.75 Million to Wheelock Street Capital, LLC
Acquisition financing for six hotel properties
SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- GE Capital, Franchise Finance recently provided a $49.75 million loan to affiliates of Wheelock Street Capital, LLC, for the acquisition of six hotel properties in North Carolina, Texas, and Illinois. The hotels have brand affiliations with Marriott®, Hilton® InterContinental, and Choice.
We are very pleased to provide a flexible financing solution to support the investment growth strategy at Wheelock, says Chris Hew, vice president, GE Capital, Franchise Finance.
Headquartered in Boston, Massachusetts and Greenwich, Connecticut, Wheelock is a private real estate investment firm focused on opportunities throughout North America. The firm pursues a diversified investment strategy, but has deep experience in the hospitality industry. Wheelock was formed in 2008 by Rick Kleeman and Jonathan Paul, two veteran private equity investors, with more than 20 years of real estate experience across all major asset classes.
We are pleased to be working with GE Capital, Franchise Finance on this high quality select service portfolio, says Jonathan Paul, managing partner, Wheelock GE has been responsive, professional, and reliable throughout the entire transaction process and we welcome the opportunity to work with them.
About GE Capital, Franchise Finance
GE Capital, Franchise Finance is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With more than 30 years of experience and $10 billion in served assets, we serve over 3,000 customers and over 18,000 property locations. We specialize in financing mid-market operators with multiple stores in the restaurant and hospitality industries. Our team of industry experts will work with you to help develop your own growth plan with access to our proprietary industry research and customized tools. More information is available at www.gefranchisefinance.com.
Arment Dietrich, Inc.
Yvette Pistorio, (312) 787-7249
GE Capital, Franchise Finance
Christine Roe, (480) 563-6260
Source: GE Capital, Franchise FinanceCopyright Business Wire 2012