$3,770,000 Hotel Acquisition Loan Closed

513 Capital, a Cincinnati based finance intermediary, is pleased to announce the closing of a $3.77MM hotel acquisition loan for a Mason, Ohio located LaQuinta by Wyndham.  The loan was completed using an SBA 7a Preferred Lending Partner.

The borrower was a first time hotel buyer and local to the property. The property was is flagged as a LaQuinta and will remain this franchise. The purchase price was above $5MM with a very light PIP. 25 year fully amortizing financing on a WSJ P +1.5% with declining 5,3,1 prepayment penalty.

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

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