$25,000,000 Bridge Financing for a Recently Completed 150-Room Hotel Located in the Southwest

April 2019

George Smith Partners successfully placed $25,000,000 financing on a 150-room recently completed hotel in the Southwest. Despite ongoing construction arbitration on the Property, GSP sourced a lender who understood the seasonality of the market and the MSA. The Property is the first new-build luxury hotel in this community in over 30 years. Proceeds from the loan were used to pay off the construction financing and provide working capital.

 

  • Rate: One-Month LIBOR + 5.00%
  • Term: Two years + One, 1-Year Extension
  • LTC: 59%
  • LTV: 66%
  • Guaranty: Non-Recourse

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