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US: Concord Summit Capital, LLC has arranged a $12.2 million construction loan for Sandpiper to develop an ECHO Suites project at Chandler Airport Center.
The four-storey, 124-room development marks the second ECHO Suites in Arizona to be financed by Concord Summit on behalf of The Sandpiper Group of Companies.
Concord Summit’s Robert Horton, John Choi, and Connor Martz structured the financing.
Horton said: “Delivering strong loan terms for repeat clients is central to our mission. Chandler Airport Center is a prime location that combines strong corporate demand drivers, a growing residential base, and direct airport proximity. It’s a natural fit for an extended-stay brand that continues to outperform the broader hospitality market.”
Carter Rise, founder and CEO of Sandpiper, said: “Working with Concord Summit again allowed us to secure favourable loan terms that align with our development strategy and accelerate our ability to expand the ECHO brand in high-demand markets like Chandler.”
Sandpiper is rolling out the brand’s western US expansion, having recently opened the third ECHO Suites in its portfolio, located in Sterling, Virgina.
Highlights:
• Concord Summit Capital has closed a $12.2 million construction loan for Sandpiper to develop an ECHO Suites project at Chandler Airport Center in Arizona.
• The four-storey, 124-room extended-stay hotel will be the second ECHO Suites in Arizona financed by Concord Summit on behalf of Sandpiper.
• The loan was structured by Concord Summit’s Robert Horton, John Choi, and Connor Martz.
