$2,575,000 Hotel Acquisition closed

513 Capital, a Cincinnati based finance intermediary, is pleased to announce the funding loan of a $2.035MM loan for a Meridian, MS located LaQuinta Inn and Suites by Wyndham.  The loan was closed in time to receive the extraordinary 6 month Cares Act payment benefit. The facility represented 78% of the purchase price and was arranged through an east coast PLP bank featuring a 5% interest rate amortizing over 25 years.

513 Capital was able to arrange the financing for this owner operator in 45 days..

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

Trackback URL https://513cap.com/2575000-hotel-acquisition-closed/trackback/