Hotel Loans
What Does Our Hotel Loan Look Like?
Loan Amount
$1 million to $40 million, larger in come cases
Markets
Primary, Secondary & Tertiary
Eligible Properties
Hotels – Full Service, Limited Service and Extended Stay
Security
First Lien Mortgage
Term (Years)
5 – 10 years
Amortization (years)
25 – 30 years
Maximum loan to value
Up to 80% (Typically 60-70%)
Minimum dscr
1.20x
Interest Rate
TBD on Current Market conditions – Call for Quote
RECOURSE
Non-Recourse, except industry standard carve-outs.
Prepayment
Permitted after a typical lock out period, subject to defeasance. Yield Maintenance available at premium pricing
Assumable
Permitted, subject to Lender’s Approval and 1% assumption fee.
Borrowing Entity
SPE acceptable to Lender, with sufficient experience, liquidity and net worth.
Reserves
Real Estate Taxes, Insurance, Replacement Reserves, TI/LC (if applicable), and others as reasonably determined by the Lender.