Transaction Details
Hotel to Multifamily Conversion
$7,140,000
Idaho Falls, ID
- LTC: 85%
- LTV: 74%
- Project Type: Hotel - Multifamily
- Rate: WSJ Prime + 5.75%
- Term: 12 Months
Transaction Overview
Max Benjamin Partners, Inc. (“MBP”) is pleased to announce the closing of a hotel to multifamily conversion project in Idaho Falls, Idaho. After previously falling out of loan committee with two other lenders, the sponsors came to MBP to execute their financing needs. MBP was able creatively structure a 12-month term that provided a fully capitalized interest reserve, paid off the existing note used to acquire the property, and provided the sponsors with the necessary renovation holdback. With the extremely aggressive loan to cost, MBP was also able to return some cash out to the sponsors.
MBP specializes in debt and equity placement for all asset classes. Our extensive network of unique capital sources in development and permanent financing and extensive capital markets knowledge allows us to tackle a wide variety of transactions, regardless of complexity or size, to benefit our clients.
MBP has a team of dedicated and experienced finance professionals with you at every step. We are consistently improving and expanding our capital market relationships and are committed to exceeding our client's expectations through these relationships, innovative solutions, and outstanding work ethic.
Intermediaries Team
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