Eastern Consolidated’s Capital Advisory Division has arranged a $68 million acquisition loan for a 257-key, 227,300-square-foot, full service hotel on a 9.5-acre tract of land in Newport, RI. The hotel previously operated under the Hyatt Regency flag and will be rebranded as Gurney’s Newport Resort and Marina operating under a Gurney’s license agreement. Eastern Consolidated’s Adam Hakim, Managing Director, and James Murad, Director, Financial Services, arranged the transaction with Bank of the Ozarks on behalf of the sponsor, a joint venture between Metrovest, BLDG, and Square Mile Capital. The hotel complex contains approximately 27,000 square feet of indoor event space, 50,000 square feet of outdoor event space, the award-winning Stillwater spa, indoor and outdoor swimming pools, fitness center, business center, four food and beverage outlets, and on-site parking. In addition, an 850-linear-foot marina is currently under construction on the property.