$3,200,000 Hotel Acquisition Loan in New Mexico Closed

513 Capital, a Cincinnati based finance intermediary, is pleased to announce the closing of a $3.2MM acquisition loan for a Las Cruces, NM Motel 6 purchase.  The loan featured a 25 year fully amortization, US WSJ P + 1.5% fixed interest rate, and a Loan to cost of 79%.

513 Capital was able to arrange the financing for a client who was purchasing the hotel and converting it to a dual flag Studio 6 / Motel 6. The loan was closed and approved within 45 days of application. This facility was arranged through a SBA PLP Lender.

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

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