HOSPITALITY (hotels, resorts, motels, restaurant) financing is very limited and on a case-by-case basis at the moment. Hard money programs exist at 60% LTV and 15% I/O
Loan Size
$500,000 to $100,000,000
Property Types
Flagged Hotels
Un-flagged Hotels
Typically limited service or resort (full service on case by case)
Loan To Value
Up to 75% subject to debt service coverage (80% possible, depending on sponsorship, location and flag)
Minimum DSCR
Programs down to 1.20x (depending on strengths of the deal)
Interest Rates
Fixed rates currently from 5.85%
Variable rates currently from 5.5%
Terms
3, 5, 7, 10 or 15 years fixed with amortization up to 30 years
Mezz Financing
Allows up to 85% LTV (with debt coverage down to 1.15)
