Back to the full list of closings

image of news item

The Madison Group arranges a $4,850,000 loan to refinance a Wyndham hotel in Louisiana.

Tags: Hotel Financing, hotel loans, hotel financing options, hotel business loan, financing for hotel refinance, hotel financing options, hotel refinance financing, commercial mortgage for hotel refinance, hospitality financing, hospitality loans, commercial real estate mortgage, commercial real estate financing, CRE financing
Friday, Nov 29, 2024
by Jared Shupe

The Madison Group (TMG), a leading national source of hospitality financing, arranged a $4,850,000 loan to refinance a hotel in Louisiana.

The client contacted TMG to refinance their existing SBA 7(a) loan that had high floating rate debt on it. The client was looking for a fixed rate with a 30-year amortization and no prepayment penalty in the event of a sale.

TMG was able to find a trusted lender to structure a loan that fit the clients wants and needs. TMG worked closely, with both the lender and borrower, to work through the loan process. Although there were some obstacles, everyone worked together, and the client is very pleased with their loan and monthly interest savings.

Property: Hotel

Location: Louisiana

Loan Amount: $4,850,000

Interest Rate: 8.00%

Term: 10 years

Amortization: 30 years

Prepayment: None in the event of a sale

Guarantee: Recourse



Full List of Recent Closings