Hyde Park Commercial Group is pleased to announce the closing of a $2,450,000 SBA refinance loan for a limited service, 76-key, interior corridor, Independent hotel. The loan refinanced existing debt, provided ownership with renovation and demolition capital necessary to take the hotel from a 200-key hotel to 76-keys, completely renovate the remaining 76-keys. The loan enable ownership the ability to consolidate operations, saving in excess of $15,000 per month in energy costs. Hyde Park worked with ownership through the entire process, advised and arranged a bank loan facility which featured a 25 year fully amortizing term, with loan pricing at WSJ Prime +2%. Hyde Park was able to arrange the full request through an east coast bank.
Hyde Park Commercial Group arranges capital through a broad range of sources from hedge funds, life companies, CMBS, private investors, SBA, to regional and national banks. Hyde Park focuses on debt placement for improved commercial real estate properties, with a specialization in hospitality properties, and business finance transactions nationwide.
For more information, call Jerry Dehner or Dan Redlinger, Managing Partners at 513-792-2940 or visit: http://www.hydeparkcg.com.