Financing the Purchase of Hotel with 80% Conventional Loan in North Carolina
Wingate by Windham
Our client focus was on lowest possible term at 80% LTV. In spite of concentration on hotels, Scientific Capital was able to arrange a loan low 4% fixed rate and 25 year amortization at 80% loan to the acquistion cost (which included 400K of PIP funds). Banks have become fairly selective and are picking higher brands and this menas much higher level of effort by Scientific Capital in search for lenders with appetite for other brands but still at very competitive rates.
Our Other Projects With This Client
A major differentiator between us and the others is the loyalty of our clients. Here are the other hotels that we financed for this client not to mention a number of referrals that we have received from him.
Acquistion of Sleep Inn of Durham, NC
Acquistion of Comfort Inn of Pinehurst, NC and client’s review of our performance
Akshat Patel at our booth, AAHOA 2018 (Washington DC)