$2.1MM Norfolk, NE Hospitality

Transaction Highlights

  • Total financing of $2.1MM
  • LTV of 18% and CLTV of 93%
  • 30 years fixed
  • Capitalized Interest Period for 1.5 years
c-pace:

$2.1MM

LTV:

18%

Type:

New Construction

building:

Hospitality

term:

30 Years Fixed

Status:

Closed

Project Description

The borrower was looking to build a new 90-key Marriott-flagged extended-stay/limited service hotel. The borrower was looking for high leverage financing solution to accompany their plan to hold the property for long term cash flow.

Bayview PACE provided $2.1MM in C-PACE financing to help round out the borrowers capital stack. Bayview provided a low, fixed rate loan for a 30 year term with a long interest only period.