Courtyard financing half-way there

WANE-15 is reporting that the financing for the Courtyard by Marriott Hotel is over half-way completed:

[…] Matt Frankiewicz, Director of Development for White Lodging, said Centier Bank has committed to more than half of the funding for the project.

Centier Bank is now working to bring in other lenders for the remainder of the funding.

The future of the hotel had been in question because a ground breaking for the facility had not yet taken place.

[blogmaster’s note:  I think the above sentence needs to be checked – the future has been in question because of financing issues, not a ground breaking.  If it were that simple, it would have been done a year ago.]

[…] Frankewicz said they hope to have the rest of the money secure within 3 to 4 weeks and that the slump in the economy coupled with the credit crunch has just come at a very bad time.

According to it’s website, Centier Bank has locations all around Northwest Indiana, with a loan production office at 9921 Dupont Circle Drive West – Suite 110.  A search of the latest listing of released TARP funds does not list Centier Bank as having received any funds.

Related websites:
Centier Bank 
White Lodging Services


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