Arriba Capital Closes a $6,050,000 Cash-Out Refinance Loan: Biloxi, MS

Arriba Capital successfully closed a $6,050,000 fixed rate permanent loan for a Quality Inn limited service hotel in Biloxi, MS. The property was severely damaged in 2006 due to Hurricane Katrina and rebuilt in 2007. The borrower also suffered in 2011 from the BP Oil Spill in the Gulf of Mexico. Through perseverance and quality management, the borrower was able to stabilize operations after multiple catastrophes. Arriba's new loan allowed for the borrower to lock-in attractive long term financing and pull cash out.