Scicap

Financing the Purchase of Hotel in Texas

Comfort Suites
Dallas, TX

In this project, our client was acquiring this hotel with larger 1031 equity and was seeking non-SBA conventional loan at a very competitive rate. Most lenders in the Texas and specially Dallas were having low appetite for financing hotels under the conventional program quoting mid to high 4% range and amortization of 15 or 20 years. We were able to find the best option for this client, a commercial loan with 3.85% fixed rate for five years and 25 year amortization. The complexity of this project was structuring the loan with the borrower as a disregarded LLC to accommodate the split of a 1031 partners without requiring any guarantee or financials from the splitting partner.

What Our Client Thinks of Us

Ramin: There is not enough words to describe what it is like to work with Ramin. He is truly excellent at what he does. If you are looking for hospitality funding Ramin is the right person for the job! I have never met a more detail orientated person. He is extremely efficient. He responds almost immediately to you as a client and to lenders or whoever he needs to speak to during the process and even after the process. Ramin will make sure you are taken care of from the beginning to even after the end of the transaction! Ramin will make sure everything is done in the correct manner keeping you at ease. Ramin is more of a friend than a standard transactional somebody you normally speak to in regards to these things and I believe that makes the relationship. Again I highly recommend Ramin and I will be using him for all my future deals.
Pankaj Vin Patel
Managing Member

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