Property Type: 60 room, Super 8 Motel Loan Amount: $1,800,000 Loan: Permanent Acquisition Financing
Transaction Summary: Our borrower approached us to secure the maximum financing available for this acquisition. After quickly assessing this transaction, we were able to provide financing which represented 86% of the purchase price. In addition, we were able to include additional dollars to cover the borrower’s closing costs and working capital needs. Our Hotel Acquisition program includes the following: Financing available up to 90% Up to 25 years fully amortized No Balloon payments Loans available up to $5,000,000 Forward Commitments available Construction Loans Non-Recourse Financing available