Pisanelli of U.S. Realty Capital secures $17 million loan for three hotels

The Atlantic Northeast office of U.S. Realty Capital brokered a $17 million permanent loan for three Holiday Inn Express hotels in the Syracuse market. The 10 year non-recourse loan was placed with a CMBS lender and sized at 70% LTV. Rob Pisanelli of U.S. Realty Capital negotiated the transaction. Collateral for the loan was the 89 room Holiday Inn Express & Suites in Dewitt, the 71 room Holiday Inn Express & Suites in Cicero and the 87 room Holiday Inn Express in Warners. All of the hotels feature an indoor pool, business center, fitness center, guest laundry, complimentary hot breakfast bar and high-speed Internet access. The Holiday Inn Express brand was introduced in 1991 by InterContinental Hotels and has grown to more than 2,100 properties worldwide. InterContinental's Priority Club Worldwide is the largest multi-brand hotel loyalty program in the industry allowing more than 63 million members worldwide to earn and redeem points at all brands. U.S. Realty Capital is a national mortgage banking company with ten offices across the country. Providing creative capital solutions for commercial real estate owners and developers throughout the United States, U.S. Realty Capital has originated over $5 billion of debt and equity for their clients since 2005. Through their collective knowledge and industry experience U.S. Realty Capital provides comprehensive project analysis and competitive solutions for the unique needs of each client and project.