$5,650,000 Dual Hotel Refinance Loan Closed

513 Capital, a Cincinnati-based finance intermediary, is pleased to announce the closing of a $5.65MM Refinance of two Waldorf, Maryland hotels.

The owners of a Wingate by Wyndham and a Quality Suites, which shared a parcel, were seeking to replace maturing debt expiring this year.

513 Capital was able to arrange P+1.5% floating rate financing on a 25-year amortization through an Insurance company-owned non-bank SBA 7a lender. Since the maximum one-borrower SBA debt is $5MM, and the existing balance exceeded limits, our team was able to arrange a $650,000 pari passu loan in addition to the $5MM loan to finalize the deal.

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

Trackback URL https://513cap.com/3200000-hotel-refinance-with-pip-loan-closed/trackback/

Trackback URL https://513cap.com/5650000-dual-hotel-refinance-loan-closed/trackback/