The Client

Our client was referred to by a developer in Houston, Texas who we worked with previously. The client is a Canadian real estate investment company looking to purchase a hotel as well as in Houston, Texas. Due to the covid-19 impact on the hotel industry, the borrower was able to secure a very competitive price on a non-flagged hotel property in the U.S.

How We Helped

Due to Covid-19, almost all lenders are on pause with hospitality finance requests, due to the inherent risk of the hotel industry and travel being shut down/limited around the world.

Our client was able to utilize a Bridge Loan to secure the purchase of the property. Once the Covid situation improves and travel opens back up, the borrower will refinance with a traditional longer term commercial loan. With the discounted purchase price, the more costly bridge loan for a few years made sense.

Loan Details

NationalityProperty ValueLoan AmountLTVRate
Canada-based
Investment Company
$3,100,000 $1,550,000 50% 8.99%
Term StateProperty TypePurposeLoan Type
2 years with
possible extensions
Houston, TexasHotel –
Non-Flagged
PurchaseBridge
NationalityCanada-based Investment
Property Value$3,100,000
Loan Amount$1,550,000
LTV50%
Rate8.99%
Term2 years with possible extensions
StateHouston, Texas
Property TypeHotel – Non-Flagged
PurposePurchase
Loan TypeBridge

Schedule a call with our U.S. Mortgage Specialist.