$1.49 Million Loan Request for the
Refinance of the
Econolodge of Burlington, NC
Terms and Conditions
You are given access to this loan proposal memorandum because Scientific Capital has determined that you (LENDER) have indicated that you have interest in reviewing this loan request and the lending capacity in offering this loan. The information provided in this memorandum is confidential and may only be shared with LENDER’s internal staff and should not be shared with other lenders, brokers, vendors, and third parties unless authorized by Scientific Capital. LENDER is not authorized to pull credit from the borrowers unless the borrowers have signed LENDER’s authorization form.
This memorandum is prepared by Ramin Mostaan and any questions or comments should be directed to him at the following contact information:
Ramin Mostaan
Scientific Capital
949 477 5000 (Office)
949 302 8300 (Cell)
ramin@scicap.com
Transaction Overview
Purpose
To refinance the $1.43 million loan on the Econo Lodge of Burlington, a 118-room, interior-corridor property built in 1984.
Project Strength
- First
- Second
- Third
- Fourth
- Fifth
Project Challenges
- First
- Second
- Third
- Fourth
- Fifth
Proposed Financing Structure
Proposed Collaterals
- First Deed of Trust on the subject property and first lien on the security interest
- Additional collateral pledged by the borrower: NONE
- Additional guarantee pledged by the borrower’s affiliates: NONE
Sources of Repayment
- Primary source of repayment: The rent paid by occupants of the subject hotel
- Secondary source of repayment: Borrower’s personal excess cashflow and liquid assets
- Tertiary source of repayment: Liquidation of the property anticipated to be a 75% loan to appraised value
- Final source of repayment: Enforcement of guarantee
Hotel's Financials and Information
Specifications
- Address: 2133 Hanford Rd Burlington, NC 27215
- Rooms: 118
- Corridor: Interior
- Number of buildings: 1
- Number of floors: 2
- Building square feet:
- Lot size:
Location
Photos
Demand Generators and Customer Segmentation
Demand Generators:
The Econo Lodge of Burlington is located just off Exit 45 of Interstate 40/I-85, benefiting from strong demand from highway, drive-through, and overnight travelers.
Local events and community activities create seasonal demand from sports tournaments, festivals, and local gatherings.
Elon University is located approximately 10–15 minutes from the hotel and contributes demand from parents, visiting faculty, recruiters, and event attendees, with peak demand during school events and graduation periods.
Midweek business travel supports consistent base occupancy.
The Econo Lodge of Burlington also benefits from local business and industrial activity, generating steady demand from small businesses, vendors, contractors, and corporate visitors.
Positioned between Raleigh-Durham and Greensboro/Winston-Salem, the property experiences frequent one-night stays from regional travelers.
Customer Segmentation:
Highway and Transit Travelers primarily stay for one-night visits and value convenience, easy parking, and quick access to the interstate.
Small Groups, such as sports teams, family gatherings, and attendees of local events, value group rates and convenient proximity to major highways.
Business and Corporate Travelers, including contractors, sales representatives, and regional employees, typically stay short-term during weekdays and seek affordable lodging with essential business amenities.
Historical Cashflow
STAR reports
Borrower Financials and Background
Borrowing Entity Structure
Guarantor Financials
Siddharth Moravekar
This section will be updated with relevant information shortly
