Hospitality Property In Cromwell, CT

Loan Type:
Bridge Loan
Loan Amount:
$7,500,000
Loan Term:
2 YR
Amortization:
Interest Only
Recourse:
Non-Recourse
LTV:
48%

Challenges

Money360 recently funded this $7.5 million, fixed rate, interest-only, bridge loan for a 215 room full-service hotel in Cromwell, CT.

Solutions

The financing allows the Borrower to utilize the cash out loan proceeds for additional hospitality acquisitions.
Loan was subordinated to a ground lease which had previously been encumbered as part of a multi-asset CMBS loan.
Short-term two-year loan term provided flexibility to later incorporate the asset into a more complex financing transaction.

Nicolas Jans

Money360

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