$2,700,000 Acquisition Loan closed for Cleveland Hotel

513 Capital, a Cincinnati based finance intermediary, is pleased to announce the funding of an 2.7MM acquisition loan for a Macedonia, Ohio Country Inn and Suites.  The loan represented 70% loan to cost on the acquisition price and property improvement plan.

This is 513 Capital’s third acquisition loan for this client.  The loan facility was arranged with a Conventional Bank lender and featured a 10 year term, an attractive fixed interest rate, and 25 years of amortization.

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

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