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Financing the Purchase of Hotel with Income Projections and Conventional Loan in Maryland

Springhill Suites
Prince Frederick, MD

 

Purchase loan of Springhill Suites of Prince Frederick

 

Scientific Capital arranges a conventional loan for the acquisition of the Springhill Suites of Prince Frederick of Maryland. This is a 10 year fixed rate loan in the 4% range and approved at 75% Loan to Value. Conventional hotel loans with 10 year fixed term and higher Loan To Value are harder to find and that is why many hoteliers resort to the CMBS loans. However, this conventional loan benefited our client with much lower fees and none of the limitations and the restrictions customary to a CMBS loan such as sweep and escrow accounts. Having financed many hotels in the past three years, many lenders are having high concentration on hotel assets and lack of appetite for new conventional loans specially at higher Loan To Value but in spite of that, Scientific Capital was able to arrange this loan with very attractive terms and to close in only 40 days from the submission of the loan package to the funding just before reaching the 1031 expiration date.

 

 

 

Our Other Projects With This Client

 

What differentiates us from the others is loyalty of our clients. Here is other hotels that we financed for this client not to mention a number of referrals that we got from this client.

 

Holiday Inn Express of Mebane, North Carolina
Comfort Inn of Dhalgren of Virginia and this client’s review of our performance
Sleep Inn of Chesapeake, Virginia

 

 


Kalpak Shah visiting us at the AAHOA 2018 tradeshow in Washington DC

 

 


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