$5,940,000 Hotel Acquisition Loan Closed

513 Capital, a Cincinnati based finance intermediary, is pleased to announce the closing of a $5.94MM, 80% of cost, acquisition loan for an Ohio Holiday Inn Express property.  The loan was completed with a bank partner/interim lender, and approved with a SBA 504 debenture.

The borrower, who is a regional hotel owner an operator, was seeking top leverage on a Holiday Inn Express they had under contract . 513 Capital was able to arrange a 504 structure that resulted in just 20% down. Attractive rates and terms on both the senior lender and the SBA debenture fixed at 6.53%.

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

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