John Svec, Managing Director of the Largo Hospitality Finance Group, arranged $6 million to refinance the existing debt on the 99-room Hampton Inn in Fishkill, New York.
John Svec, Managing Director of the Largo Hospitality Finance Group, arranged $6 million to refinance the existing debt on the 99-room Hampton Inn in Fishkill, New York. Built in 1998 with excellent visibility from I-84, the hotel is professionally managed and consistently performs at the top of its competitive set. The Hampton Inn Fishkill services numerous Hudson Valley tourist attractions and universities, as well as Gap Inc.’s Northeast Distribution Center, the Downstate Correctional Institution, and two regional IBM tech campuses. The client is particularly pleased to have received multiple loan offers and with the loan John ultimately structured and negotiated. The 25-year loan carries an attractive 10-year fixed rate, modest prepayment restrictions, and a number of creative credit enhancements.
The Largo Group of Companies is a commercial mortgage banking company that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo arranges innovative financing structures for borrowers throughout the United States and Canada. We manage the loan process from loan application through closing and service the loan throughout its term.
Refinancing – Acquisitions – New Construction – Bridge Loans – JV Equity
With interest rates expected to rise in 2014, be ready to lock in attractive fixed rates to protect your long-term cash flows. Call John for a free evaluation of your hotel’s borrowing power and your multiple lending options.