
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
Advisors
