Financing the Purchase of Motel with Projections in Virginia
Super8
Norton, VA
Taking into account the global cash flow of the guarantors, their liquidity, and their experience along with a viable strategy behind the projections is what we focus on in financing turnaround hotels. We present the lack of viable strategies by the current owner and prove that once the new buyer takes over, the buyer will turn the corner in a short period of time. We generally achieve this through SBA 7(a) loan program.
Our Other Projects With This Client
What differentiates us from the others is loyalty of our clients. Here is the other hotels that we financed for this client not to mention a number of referrals that we got from this client.
Hoiday Inn Express
Fredericksburg, VA
Fredericksburg, VA
Conventional
$8,200,000
Conventional 80% loan for purchase/PIP of leased hotel
Holiday Inn Express
Stephens City, VA
Stephens City, VA
Conventional
$4,800,000
Finance the purchase and PIP at 80% LTV
Springhill Suites
Morgantown, WV
Morgantown, WV
Conventional
$11,000,000
Finance the purchase and PIP of two hotels at 80% LTV
Holiday Inn Express
Mooresville, NC
Mooresville, NC
CMBS assumption
$7,500,000
Assumption of the existing seller's CMBS non-recourse loan for the buyer
Comfort Inn/ Wingate
Springfield, VA
Springfield, VA
Conventional
$15,300,000
Finance the purchase and PIP at 70% LTV
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