© 2017 Cronheim Hotel Capital. Proudly created by Fedup Digital.

  • LinkedIn Social Icon

Warminster Holiday Inn Express

$8,350,000  |  Warminster, PA

 

Background:

Owner/operator sought a cash-out refinance for a Holiday Inn Express in suburban Philadelphia.

 

Challenges:

  • While he had long been a successful retail franchisee, this was the Sponsor’s first hotel.

  • The hotel parcel was part of a multi-site condominium, so the Borrower didn’t own the primary access drive.

Solution:

  • CHC demonstrated the hotel’s strong competitive position in a high-barrier-to-entry market.

  • CHC reviewed the condominium documents before going under Application to ensure that the condo structure was financeable.

Outcome:

CHC secured financing from one of its correspondents on a 10-year term with a 25-year amortization at a sub-5% interest rate.

Share on Facebook
Share on Twitter
Please reload

Recent Posts
Please reload