Results 1 to 4 of 4
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04-06-2017, 10:09 AM #1
- Join Date
- Mar 2017
- Location
- Amherst, NY
- Posts
- 8
Need FF&E refi for hotel group
I have a client that has 3 hotels, all seasonal in tourist area; looking for refi to FF&E loan by Marriott. They're an Indian family and has common ownership, been in business 30 years. Solid assets but due to seasonal nature of locations has low cash flow recent history (last 5 months) but great long term sustainability. Anyone want to take a shot at trying to underwrite who has experience in similar deals? $750,000 is current note from Courtyard Marriott location.
Adam
7162029111
amarch@valmarfunding.com
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05-08-2017, 07:27 AM #2
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05-08-2017, 10:18 AM #3
- Join Date
- Jul 2015
- Posts
- 168
We can take a look but we'll need 6 months of banks and quarterly P&L + BS's going back 1 year in order to underwrite. Shoot us an email: support@lendvo.com
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07-24-2017, 08:15 PM #4
- Join Date
- Nov 2015
- Location
- Indiana
- Posts
- 17
My speciality is hospitality financing.
You should try Access Point Financial. Depending on the deal they will go 3-10 years (I typically see them at 5-7 years), and rate will be in the 7-10% range. The one thing I will say is that they may question if a broker charges 5-10%. Like it or not, its just the way it is. From what I've heard are weary of working with brokers that charge fees that are that high. Do what you want with that, but I thought I would give you the heads up on that. In my opinion, they are one of the best FF&E lenders in the hospitality industry besides getting a 7a loan.
Best of luck!
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