30 Unit Hotel, Victoria, TX

30 UNIT HOTEL, VICTORIA, TX.

This hotel has 100% Occupancy, and a consistent positive cash flow!

Borrower is requesting 625K to pay off current loan that is coming due. Borrower owns a 30-unit hotel in Victoria, TX named Crossroads Inn & Suites, which is estimated to be valued at $1M.

He has owned it for approximately 6 years. (Appraisal was ordered and should be delivered very soon) Our borrower’s plan is to have 3 years of financials and operating history in order to refinance to more traditional terms. He currently has 2 years and needs 1 more. He also believes he can refinance in 12 months but wants a cushion of 12 months.

Borrower has good credit and his background check came in ok. Borrower rents the rooms by the month for $1800 and has 100% occupancy all the time. Very good cash flow!

  • Loan Amount

    $625,000

  • Property Value

    $1,000,000

  • LTV

    63%

  • Property Type

    Commercial

  • Occupancy

    Investment

  • Loan Purpose

    Refinance

  • Loan Term

    24 Months

  • Interest to Investors

    11%

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