$4.2MM Comfort Inn & Suites Refinance

This MidAtlantic 100-Room Comfort Inn & Suites had just completed a major PIP and renovations to the entire hotel. Current financing was used during the interim improvement phase but was not intended to be a long-term solution. Owner plans were to transition hotel back to the permanent debt markets. Through no fault of ownership, the project experienced lengthy difficulties with FF&E procurement. Revenues had declined significantly which created hurdles during the refinance process. Gerard Dehner, Jr., Managing Partner of Cornovus Capital, was able to provide the guidance and direction to get the asset refinanced into an SBA 7(a) loan exceeding borrower expectations for the timeframe.

Cornovus arranges capital through a broad range of sources such as SBA, CMBS, life insurance, regional and national banks, hedge funds and private investors. The primary focus is on debt placement for improved commercial real estate properties with a specialization in hospitality. We support business finance nationwide.

To learn more call Jerry Dehner at 513-792-2727 or visit www.CornovusCapital.com