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Purpose | Acquisitions, Refinance, Construction Takeout, and PIP/Renovation |
Collateral Type | Hotel/Motel, Minimal F&B and Meeting Space, All Chain Scales(except luxury) |
Locations | Western United States, No Central Business District Locations |
Amount | $5 Million – $25 Million Per Property |
Loan Term | 3-7 Years |
Rate | Fixed or Floating |
Amortization | Up to 25 Years |
LTV | Up to 65% |
DSC | Stabilized at 1.50× or Higher, May Require Reserves |
Prepayment | 5, 4, 3, 2, 1% |
Loan Fees | 1.50% |
Reserves | Required for Operating Decits and Debt Service, Where Needed |
Recourse | Full Repayment |