Motel 6 Renovation Loan Closed

513 Capital, a commercial real estate advisory firm is pleased to announce the closing of a PIP renovation loan. The subject property was a 2-story exterior corridor limited service Motel 6.  Daniel Redlinger advised and arranged a fully amortizing bank loan facility, provided the capital necessary to complete the complete renovation of the hotel. Daniel had previously worked with the client to arrange funds to buyout the current partnership and provide working capital. The loan pricing was WSJ Prime +2%.  The full loan request was arranged through an east coast bank.

513 Capital arranges capital through a broad range of sources from hedge funds, life companies, CMBS, private investors, SBA, to regional and national banks. 513 Capital focuses on debt placement for improved commercial real estate properties, with a specialization in hospitality properties, and business finance transactions nationwide.