$2,050,000 FLAGGED HOTEL ACQUISITION, 5.75% (PRIME + 2.50), 25-YEAR TERM
Scenario:
An experienced hotel owner was looking to relocate and purchase a flagged economy class hotel that had recently (past 3 years) been bought out of foreclosure and turned around.
Although the hotel was lacking consistent historical financials, we saw the value in the upward trend and future potential.
Loan Proposal issued for 80% Loan To Value with $60K in working capital and covered closing costs. 5/3/1 3-Year Pre-Pay allows borrower flexibility moving forward.
