2007 Transactions

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Tremont Structures $18,100,000 Financing for Kentucky Hotel Portfolio

The Chicago office of Tremont Realty Capital arranged refinancing of a hotel portfolio in Lexington, Kentucky, which included a Baymont Inn, a Holiday Inn, and a Best Western totaling just over 500 rooms.

A Senior Director with Tremont, arranged the $18,100,000 loan through a national bank. The recourse loan provided for roughly 75% loan-to-value with an 8% interest rate.  According to Tremont, “There were three separate hotels/flags located next to each other, all doing well.  There were no unique nuances in the transaction, except that one flag would do better one year, than the others, and then that would flip flop the following year.  This had to be taken into consideration from an underwriting perspective, since the borrower wanted to maximize the loan proceeds.

For additional information on this transaction, please contact:

Thomas Lorenzini
Managing Director
Email: tlorenzini@tremontcapital.com
Phone: 312.236.0960