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2007

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2001

 


2005 Transactions


Tremont Structures $7,000,000 Permanent Financing for South Carolina Hotel


The Hartford office of Tremont Realty Capital structured financing for the acquisition of the 100-room Hampton Inn & Suites Bluffton-Sun City in Bluffton, South Carolina. Built in 2001, the newest hotel in the city has a business center, a fitness facility and an on-site florist. The property is located just six miles from Hilton Head, SC and is managed by CRM Companies of Lexington, KY.

Stephen Henderson, a Senior Director with Tremont, arranged the $7,000,000 fixed rate loan, which was funded through a CMBS lender. The 10-year, non-recourse loan provided for acquisition financing with a 6.2% interest rate and a 25-year amortization. The borrowing entity was a TIC (tenants in common) comprised of twenty separate TICs. According to Henderson, "the borrowing structure created some unique problems for both the acquisition and the loan, however Tremont worked closely with the lender to create a loan satisfactory to all parties involved."

For additional information on this transaction, please contact:

Stephen Henderson
Senior Director
Email: shenderson@tremontcapital.com
Phone: 860.548.9289






















 


 
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