- Loan Amount: $11,000,000
- Loan Term: 2 YR
- LTV: 75%
Hospitality Property In Cromwell, CT
- Loan Type:
- Bridge Loan
- Loan Amount:
- Loan Term:
- 2 YR
- Interest Only
Money360 recently funded this $7.5 million, fixed rate, interest-only, bridge loan for a 215 room full-service hotel in Cromwell, CT.
The financing allows the Borrower to utilize the cash out loan proceeds for additional hospitality acquisitions.
Loan was subordinated to a ground lease which had previously been encumbered as part of a multi-asset CMBS loan.
Short-term two-year loan term provided flexibility to later incorporate the asset into a more complex financing transaction.
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