Hospitality

Loan Highlights

  • Location: Phoenix, AZ
  • Product Type: Hospitality
  • Loan Amount: $18,000,000

Description

Hospitality

Revere Capital concurrently funded two acquisition loans totaling $18,000,000 secured by first liens on two Phoenix-area hotels:  a 105-room hotel in Downtown Phoenix, and a 90-room hotel in Florence, AZ.

  • Revere was able to structure the loans around the sponsor’s complex TIC structure.
  • Small holdbacks were included in each loan for initial capital improvements and working capital needs during the management transition process.
  • Both hotels will be affiliated with one of the largest global hotel companies.
Cheyanne HarringtonFebruary 25, 20190 comments