$1,650,000 Hotel Bridge Loan Closed

513 Capital, a Cincinnati-based finance intermediary, is pleased to announce the closing of a $1.65MM Bridge Loan Refinance of an Indiana, Pennsylvania Ramada by Wyndham.

The owner of the Ramada had a time-sensitive maturity deadline fast approaching by YE 2025 in which he was seeking a fast and assured closing

513 Capital was able to arrange an 8% fixed rate Interest only facility that gave him and the hotel 3 years of term. With the short window to affect a closing, and short term of minimum interest, this solution was ideal given the circumstances. The bridge loan was arranged through a Life Company and closed just on time New Year’s Eve.

513 Capital specializes in bank, SBA, CMBS, and private commercial real estate funding.

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