Texas Marriott Courtyard
$8,900,000 | Ft. Worth, TX
Owner/operator sought permanent refinance of existing debt on Courtyard that opened in 2009.
As a growing hotel developer, Sponsor required very low liquidity & net worth requirements.
Sponsor was undecided about its preference for a 25-year or 30-year amortization.
CHC quickly created an active market around the transaction, which ensured the Borrower’s specific net worth & liquidity needs could be met.
CHC structured a loan that allowed Borrower to choose its amortization schedule.
CHC placed financing on a 10-year term with a 25-year amortization at a sub-5% interest rate.