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robert759
14 Posts |
 Posted - 06/30/2009 : 4:57:12 PM
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Hotel REfi
Borrower owes 3.3 Million
Term of Loan has expired.
Looking for a Rate/Term
In regards to the MAYFLOWER HOTEL, it is located at 910 N WISCONSIN DELLS PARKWAY , it consist of 160 rooms and two houses , it sits on 7 acres and borders on three streets and has been in business since 1956 . The pictures ,the ADR and gross sales since 2001 can be provided. Go to dellsmayflower.com
Robert
424-202-3639
cbrob@yahoo.com |
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findingfunding
228 Posts |
Posted - 06/30/2009 : 5:21:48 PM
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| Hotel deals are currently difficult but not impossible. Be happy to discuss if you would like to be in touch. Some information on website. |
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Commercial_Hitma
98 Posts |
Posted - 06/30/2009 : 5:22:34 PM
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That was a lot of crucial information about that deal and if you're not in total control of the borrower, someone with no integrity could try to snake the deal from you.
Gotta be careful how much info you put out there...... |
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cspatmon
5364 Posts |
Posted - 06/30/2009 : 5:52:49 PM
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| Not advised divulging to much info. without a lending source. I totally agree with hitman. |
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Matt W.
2164 Posts |
Posted - 06/30/2009 : 6:14:27 PM
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If <60% ltv, we would be interested.
Thanks |
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stuartg
232 Posts |
Posted - 07/02/2009 : 3:34:12 PM
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Please send a summary, use of funds, and financials on property and borrower and I should be able to give you a prompt answer.
Very Best,
Stuart G Lewis
Managing Director
Brinkabar, Inc.
9595 Wilshire Blvd., Suite 900
Beverly Hills, CA 90212
310-300-8463 Tel
310-496-0588 Fax
slewis@brinkabar.com
www.brinkabar.com
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jskolnick
291 Posts |
Posted - 07/02/2009 : 3:38:24 PM
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Robert
As mentioned above, hotel loans are becoming more difficult. LTV should be around 60%. I would be happy to discuss this with you at any time.
Please feel free to contact me at any time to discuss your loan scenario.
We are commercial mortgage brokers.
We can arrange any type of asset based lending. From lines of credit to accounts receivable, purchase order, equipment financing to real estate. We maintain relationships with a variety of different banks. This gives us the ability to offer the best terms for loans from $500,000.00 and up. Loans can be submitted through our web site, www.greenmountainfs.com, via e-mail to greenmountainfs@gmail.com or call us at 516-596-1456.
Jerry Skolnick
Green Mountain Financial Services, Ltd.
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champakstmtn
19 Posts |
Posted - 07/04/2009 : 8:59:28 PM
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Hello Robert,
The Hotel Loans are still done everyday.
I am a Commercial Mortgage Broker in Atlanta, Georgia.
Just talked to two lenders last week for two projects.
They are doing 65% to 70% --upto 80% Conventional and
up to 85 % Loan for construction ...acquisition (SBA).
I specialize in Hotels / Motels.
In your case... it will depend on trailing 12 months
revenues...from June 2008 to June 2009 ..and expenses..
hopefully business is good now... also it is not a
flag ( franchise ) and is very old..so LTV may be
less...55% to 65% ..with NO cash out ... unless they
need money for renovations and some working capital..
New appraisal will be required. If numbers work and
property is in good condition..may get long term loan.
Thanks
Champak C Shah
RIPA Financial Services, Inc
P. O. Box 870168
Stone Mountain, Georgia 30087
champakstmtn@bellsouth.net
404 488 6137 |
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