2005 Transactions
Tremont Structures $13,750,000
Bridge Financing for Hotel Portfolio
The
Chicago office of Tremont Realty Capital arranged debt refinancing
of a hotel portfolio in Lexington, Kentucky, which included
the Baymont Inn, a Holiday Inn, and a Best Western totaling
just over 500 rooms.
Tony Kolomayets, a Senior Director with Tremont, arranged
the 24-month, $13,750,000 loan, that was funded through
a Chicago-based bank and provided for roughly a 68% loan-to-stabilized
value. The interest rate was 1.5% over the Bank of America
prime rate. According to Kolomayets, "The key to the
transaction was to accommodate the borrower with flexible
financing, which accomplished several goals for our client
such as, taking out the existing high rate financing and
providing a large amount of additional cash flow with the
new loan."
For additional information on this transaction,
please contact:
Tony Kolomayets
Senior Director
Email: tkolomayets@tremontcapital.com
Phone: 312.236.0970
