$6,500,000 Ascend Hotel Renovation Loan Closed

8/03/26

513 Capital, a Cincinnati-based finance intermediary, is pleased to announce the closing of a $6.5MM hotel loan refinance + renovation funds to convert a hotel to Ascend by Choice Hotels.

The owners of a 104-key unbranded hotel in Sharonville Ohio were seeking to convert to an Ascend Flag through a significant renovation of the property.

513 Capital arranged P+1% floating-rate financing with a 25-year amortization through a Nevada-based 7 (a) lender. The proceeds were split into two loans, with the construction loan remaining interest-only during renovations.

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