Condo Hotel Development Financing
A new asset class which caught investor's fancy only recently and has led to a spur of new conversions from stand alone Hotels and Apartment buildings to new Full service Condominium Hotel developments. The resident's every need is pampered and every whim catered to, while their investments earn a return when not occupied by the owners, Condo Hotel are being developed in major markets nationwide.
ParkSide Real Estate Capital has advised on a number of Condo Hotel developments and understands the needs of Developers and Converters intimately. ParkSide is able to bring its wealth of experience in the Hotel industry to assist Borrowers with obtaining the best possible financing for their new Condo Hotel development or conversion.
Loan Products Offered
- Construction
- Conversion / Repositioning
- Bridge / Interim
- Preferred Equity
- Mezzanine
- Combined High LTV First Mortgage upto 85% of Cost
Total Loan to Value / Cost not to exceed 90%, including Mezzanine or Preferred Equity piece.
Non-Recourse, Floating Rate, 3 Year Interest only loans with two 1 year extensions available. Spreads based on 30 day LIBOR
Minimum Loan Size $ 25,000,000 and up. Large deal sizes preferred.
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