The Atlantic Northeast office of U.S. Realty Capital brokered a $5.067 million construction and permanent loan for an 83-room Candlewood Suites. The 24 month construction loan and five year permanent loan were placed with a regional bank. The loan was sized at 80% of the total project cost and carries a construction interest rate of 5%. Rob Pisanelli of U.S. Realty Capital negotiated the transaction.
In another transaction, Pisanelli brokered a $1.722 million construction and permanent loan for the 7,888 s/f Quaker Steak & Lube Restaurant located on Buffalo Rd. in Rochester. The 9 month construction loan and twenty year permanent loan were placed with a local bank. The loan was sized at 85% of the total project cost and carries a construction interest rate of 4.5%.
U.S. Realty Capital is a national mortgage banking company with ten offices across the country. The brand's success to date is rooted in its widening distribution and commitment to quality. Tags: