The Madison Group (TMG), a leading national source of
hospitality financing, arranged a $9,300,000 SBA 504 purchase loan for the
acquisition of an 88 room hotel near the Phoenix, Arizona international
airport.
As an experienced operator and owner of hotels, the borrower
was seeking the best the market had to offer for hospitality acquisition
financing. Understanding the difficult
hospitality market since the pandemic restricted travel, they wanted to
understand the broader market beyond their existing relationships. The Madison Group was able to source an SBA
504 structure with excellent partners who worked diligently to meet closing
deadlines through the holiday months.
Despite various hurdles throughout he process The Madison Group,
Borrower, Lender, and CDC worked lockstep to work to a successful closing.
Property: Hotel
Location: Arizona
Loan Amount: ~$9,300,000
Interest Rate: 7.75%
Term: 10 years
Amortization: 25 years
Prepayment: None
Guarantee: Recourse