Commerical Loan Details


Date: May 31, 2013
Title: $1.12MM Flagged Hotel Acquisition/Turn Around
Practice Type: Hotel / Motel
Loan Terms: $1,120,000 FLAGGED HOTEL ACQUISITION, 5.75% (PRIME + 2.50), 25-YEAR TERM

Scenario: Short Sale Purchase of Ramada Inn in Ocala, FL. The hotel was bought at the height of the market in 2006 for ~$4.5MM.

Money was put into renovations. This large debt load coupled with the economic downturn led to the poor financials and negative cash flows.

   

 


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