$5.36M HOTEL CONSTRUCTION

PROJECT INFO

$5,360,000
Interim Construction Loan/ Permanent Fixed Rate Mortgage
71 Room Flagged Motel Construction
Midland, Texas

PROJECT DETAILS

Client came to V³ Lending seeking a construction loan for a flagged motel in Midland, TX. With the majority of lenders not lending on Hospitality properties or construction, V³ found a way to fund the construction and permanent loan for our client.
V³ Lending arranged a $5,360,000 SBA 504 Loan on a 71 room motel to cater to the Oil and Gas boom in the Midland, TX region. The first mortgage is on a 6% fixed rate mortgage on a 20 year amortization while the second SBA CDC portion is on a 4.25% fixed rate mortgage on a 25 Year amortization. The client only injected a 20% down payment as their equity to fund the construction loan.

Closed Transaction

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2591 Dallas Parkway

Frisco, Texas 75034

TF: 877-331-9583

P: 214-295-8354

F: 214-540-5169