Jones Lang LaSalle ("JLL") has been retained on an exclusive basis by the Seller, a regional bank, to arrange the sale of a $22.2 million loan relationship which includes first-and-second-lien loans (the "Loan" and "Line", respectively, collectively the "Loans"). The Loan is secured by a first-lien priority mortgage on the fee simple interest in a 225-key full-service hotel (the "Property"), in Westborough, MA. The Loan, which was originated in July 2015 to finance the acquisition of the Property, had an initial balance of $21,700,000, a LIBOR + 2.00% rate, and featured 3-years interest-only payments, followed by a pre-set principal paydown schedule based on a 25-year amortization schedule, subject to adjustable-rate interest.

The Property initially closed as a result of COVID-19 in March 2020. The Borrower briefly reopened the hotel in July 2020, only to close again in August 2020, but permanently reopened on April 1, 2021. The Loan was granted P&I deferrals from April 2020 through October 2021 under three (3) modifications. The interest-only Line was originated in October 2020, providing an additional $2.0 million of usable funds to the Borrower to help carry Property-level operations, and is secured by a second lien interest in the Property. As of December 2022, the Loans have a combined principal balance of $22,238,706.