Hotel Loans

Hotel Loans 2018-05-22T00:27:05+00:00

LOAN AMOUNT 
$1 million to $40 million, Larger in some cases

MARKETS 
Primary Secondary & Tertiary

ELIGIBLE PROPERTIES 
Hotels – Full Service, Limited Service and Exentded 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 
Applicable swap yield plus 175–285bps, floors may apply based on current bond yields

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

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