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Brokerage
Posted: May 28, 2013
U.S. Realty arranges three construction and permanent loans totaling $15.45 million
The Atlantic Northeast Office of U.S. Realty Capital brokered $15.45 million in construction and permanent loans for three hotels across the country. All of the hotel owners sought out U.S. Realty Capital because of their hospitality financing expertise. The loans include:
* A $6 million construction and permanent loan for a Candlewood Suites in Sayre. The 18-month construction loan and 20-year permanent loan was placed with a regional bank. The loan was sized at 75% loan-to-value and carries a fixed interest rate of 4.5%. The amenity-filled 95 room Candlewood Suites will feature a business center, fitness center and guest laundry along with high-speed internet access. Rob Pisanelli of U.S. Realty negotiated the loan.
* A $4.9 million permanent mortgage was obtained for a 78-room Holiday Inn Express in Marietta, GA. The property was constructed in1997. The property currently experiences annual occupancy levels of 65% and an ADR over $94. The loan was arranged with a CMBS lender at a rate of 4.41% fixed for 10 years, 70% loan-to-value, and amortized over 25 years. Pisanelli structured the financing.
* A $4.55 million permanent mortgage was obtained for a 74-room Holiday Inn Express in Georgetown, Tex. The property opened in August of 2010 and currently experiences annual occupancy levels over 60% with an ADR over $95. The loan was arranged with a CMBS lender at a rate of 4.59% fixed for 10 years with a 25-year amortization schedule. U.S. Realty's Pisanelli, Bryan Lorenz and Rishi Patel negotiated the loan.
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