$3.2M HOTEL PARTNERSHIP BUYOUT
70 Room Independent hotel
4.85% interest Rate 5 years fixed/ 25 years Amortization
80% Loan to value
Client came to V3 Lending when they wanted to buyout their partner's share in their hotel. All the client's lenders were requiring additional capital in order to complete the partnership buyout.
V3 Lending was able to fund a $2.850M loan on 80% loan to value which gave the client 100% ownership of the hotel without injecting any additional funds.