The financing includes the following:
- Home2 Suites El Paso Airport, TX – CMBS ($14.37 million)
- Hampton Inn & Suites Houston Medical Center NRG Park, TX– SBA 504 ($12.82 million)
- Fairfield Inn Columbia Northwest/Harbison, SC– SBA 7(a) ($4.28 million)
“The Home2 Suites property provides a notable data point for the non-recourse market,” said Adeel Amin, SVP, capital markets, who executed the transactions on behalf of the firm. “The deal, characterized by a 12% debt yield, secured a ~68% loan-to-cost ratio with a 314-basis point spread over 5-year Treasuries. This level of financing that’s inclusive of a PIP was corroborated by multiple CMBS lender offers, signaling robust market demand. The development indicates a loosening of non-recourse lending standards, with lenders displaying increased appetite for leverage while still offering competitive rates.”
Tags: Adeel Amin, Home2 Suites El Paso Airport, Hampton Inn and Suites Houston Medical Center NRG Park, Hunter Hotel Advisor
