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Follow on Google News | Scientific Capital arranges 4.7 million loan for the acquisition of the Holiday Inn ExpressFinancing Holiday Inn Express of Claypool, VA under the conventional hotel loan with higher LTV of 80%
By: Scientific Capital Group, Inc. This loan was structured at 80% Loan to Value as a five-year fixed loan fully amortized for 20 years and resetting every five years at starting rate of 3.85%. Since a syndicated partnership was acquiring this hotel, we were able to negotiate a limited guarantee for each partner. We also negotiated a reduced lender point of a quarter of a point reducing the cost for our client. The loan also includes nearly 1 million of PIP (Propery Improvement Plan) required by IHG Formula Blue design specifications. The PIP loan will be interest-only for a year once the disbursement begins. Scientific Capital Group, Inc. (www.scicap.com) End
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