Hyde Park Commercial Group, a commercial real estate advisory firm is pleased to announce the closing of a PIP renovation loan. The subject property was a 2-story exterior corridor limited service Motel 6. Hyde Park advised and arranged a fully amortizing bank loan facility, provided the capital necessary to complete the complete renovation of the hotel. Hyde Park had previously worked with the client to arrange funds to buyout the current partnership and provide working capital. The loan pricing was 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 Redlinger Managing Partners at 513-792-2940 or visit: http://www.hydeparkcg.com.