ARRIBA CAPITAL CLOSES TWO LOANS TOTALING $4,400,000: BILOXI MS & FOREST CITY, AR

Arriba Capital successfully closed a $4,400,000 loan secured by the Comfort Inn in Biloxi, MS and the Days Inn in Forest City, AR. 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.