Refinance of an Independent Hotel for a Foreign Owner with
Cashout and Conventional Loan in New York
Georgian Lakeside Resort
Lake George, NY
The financing of this hotel had one major issue, the borrower was not a US resident or citizen and did not live in the US. Additionally, the hotel is an independent one in tertiary market making it even harder to finance specially with very significant cashout well over a million that is to be used for outside investments not related to the subject hotel.