Comfort - Biloxi.jpeg

Location: Biloxi, MS

Loan Amount: $3,300,000

Interest Rate: Prime + 2.00%

Term/Amortization: 25/25

Loan to Value: 55%

Purpose: The loan allowed for the borrower to exercise a lease-to-own option on the Quality Inn and do the necessary improvements required by Choice Hotels. The Days Inn was constructed in 1967 and suffered from ongoing repairs and maintenance problems. Arriba's loan also allowed for substantial renovation to the property to increase RevPar and ADR.