Rodeo Capital, Inc. Closes a $4,500,000 Hotel Purchase Loan in Daytona Beach Florida
DEAL HIGHLIGHTS:
75% Loan to Purchase/ 58% Loan to Value
Experienced Borrower with 25 Commercial Properties in his Portfolio
The subject property is a 143 room interior corridor La Quinta Inn Hotel with an existing, successful full service restaurant on 6.51 acres in Daytona Beach Florida, less than one mile from the newly renovated Daytona International Speedway. ADR rates on average are quite high due to the many popular events at the Speedway. The borrower’s close relationship with La Quinta Management and the borrower’s strong reputation, allowed the borrower to get an advantageous price on this corporate owned well-kept property. This will be the 25th commercial property acquired by the borrower and he will exit Rodeo’s loan with a conventional bank refinance. New loan by Rodeo helped the borrower acquire the property on time to meet his 1031 exchange requirements.
To View this and other recently closed transactions; please visit our Recent Fundings Page on our website at: https://rodeocapital.com/rodeo-capital-inc-closes-a-4500000-hotel-purchase-in-daytona-beach-florida/
To learn more about these loans or our overall lending capabilities, please contact Marc Rabkin at 310-909-7334 or [email protected]
Director of Business Development & Sales Advisor – Real Estate Finance
7 年Thanks!!! We are always on the lookout for Quality Hard Money Deals to Fund. We compensate those who bring us deals between 1 to 2 points per deal funded paid thru escrow when the loan closes. looking for loans between $500k to $12 mil in size.