$7,000,000 – Cash Out Refi, Fairfield Inn & Suites, Memphis, TN

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$7,000,000

Cash Out for new hotel with only one year of operating history!

5 Year Fixed Rate Term, locked at application

Limited Recourse

6.38% fixed rate

DETAILS:

Sponsor is an active developer in the area with a rock solid reputation. Many lenders in the area do not lend on hotels, which created the challenge for Banyan Commercial Capital to solve for client.

Michael Brown – mb@banyancc.com

Dan Bockstoce – db@banyancc.com