$5,100,000 Conventional Hotel Refinance Closed

513 Capital, a Cincinnati-based finance intermediary, is pleased to announce the closing of a $5.1MM Conventional Hotel Property Refinance loan.

The owner of a 96-room Holiday Inn Express in Warsaw, Indiana, was coming up on a loan maturity and was seeking to refinance.

513 Capital was able to secure 6% fixed rate financing on a 5-year term from a local Credit Union. The Credit Union’s origination fee was .25%. The amortization was 20 years.

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