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Loan Amount: $3,865,000

Interest Rate: 4.9%

Term/Amortization: 10/25

Loan to Value: 70%

Purpose: Arriba Capital successfully closed a $3.8 Million loan for a 105-key Rodeway Inn & Suites. The new loan was used to refinance the existing 1st mortgage lender and additional subordinate notes. The transaction was complicated by having to get the SBA to e-subordinate their loan to a larger 1st mortgage amount. The ew 1st mortgage was leveraged to 70% LTV with a 10-year term and 25-year amortization.

 

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