Property Type: 123 room Holiday Inn Express Loan Amount: $1,800,000 Loan: Permanent Financing Transaction Summary: A Regional Hotel Management Company, who was managing properties for other owners, wanted to pursue their own ownership opportunity. They were frustrated by the reluctance of several banks they approached regarding
their finance request. Our assignment…to obtain the maximum amount of acquisition financing, without a SBA or similar enhancements, at a favorable interest rate. Results: NYCL quickly evaluated the positive aspects of this deal, based on its extensive knowledge of the hospitality industry, and prepared a detailed memorandum lenders which accentuated our clients experience. Based on the foregoing, we negotiated a $1,800,000 loan at a favorable interest rate. The loan provided 90% financing of the purchase price. The property is currently performing very well and the purchase would not have been possible without NYCLs knowledge.