Hotel /
Hospitality #1:
Pensacola, FL
Hospitality Loan – 133 Room Hotel
Loan Amount: $6,000,000
Challenge:
The purpose of this hotel loan was to lower the borrower’s current interest rate to the lowest rate possible rate via a 5-year, fixed-rate financing solution with maximum cash out on a non-flagged, 9 year old hotel in a tertiary market during the midway point in the economic recovery cycle. This loan closing was to be simultaneous with another hotel financing, a hotel owned by the same borrower.
Solution:
Assets America® used its incredibly detailed and proprietary lender matching matrices, techniques and extensive lender databases to bring to the table and secure the $6 Million loan facility at the very best rates the market place had to offer. The execution resulted in cash to the borrower at closing with simultaneous closings on both of the borrower’s hospitality properties with the very low, fixed rate terms he desired.