Acquisition Bridge Loan Closed in 2 Weeks

513 Capital, a Cincinnati based finance intermediary, is pleased to announce the closing of a $892,000 bridge loan for the $1,275,000 acquisition of a bank owned hotel.  The loan featured a 12 month interest only term.

The borrower, who is a long term client, is expanding his hotel portfolio and negotiated an opportunistic but quick close deal with a bank owner. The Cuero, Texas located hotel is 100 rooms, only 3 years old, and will be flagged as Fairbridge Inn and Suites. 513 Capital was able to respond, arrange, and close this bridge loan in a little over two weeks.

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

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