$1,750,000 Hotel Acquisition Closed

513 Capital, a Cincinnati based finance intermediary, is pleased to announce the closing of a $1.35MM hotel acquisition loan for a Marietta, OH located Baymont by Wyndham.  The loan supported a $1,750,000 acquisition price along with $150,000 in working capital. New ownership was expanding their portfolio with their second hotel purchase in 2 years.

513 Capital was able to arrange the financing using the SBA 7a program which due to the stimulus bill, featured a waived guarantee fee and payment relief.  The loan facility is a 25 year fully amortizing structure with limited prepay penalties.

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

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