The Atlantic Northeast office of U.S. Realty Capital arranged $97.61 million in construction, bridge & permanent loans for ten hotels across the country. Rob Pisanelli of U.S. Realty Capital negotiated the following transactions totaling $30.35 million:
* $7.7 million permanent loan for a 124-room Candlewood Suites in Syracuse. The property opened in December of 2003.
* $8.15 million permanent loan for a 75-room Holiday Inn Express & Suites in Utica which opened in November of 2012.
* $7.5 million permanent loan for a 94-room Holiday Inn Express & Suites in Syracuse. The property opened in May of 2007.
* $7 million permanent loan for a 79-room Fairfield Inn & Suites in Horseheads. The property opened in April of 2013.
All New York loans were non-recourse, sized at 70% loan-to-value with 10-year fixed interest rates under 5%. Tags: