Acworth, GA.png

Location: Springfield, IL

Loan Amount: $4,000,000

Interest Rate: Prime + 2.00%

Term/Amortization: 25/25

Loan to Value: 60%

Purpose:  This new loan allowed the sponsorship to lock-in attractive long term financing and capitalize on a deep discount being offered by the existing lender. Arriba structured this $3,100,000 loan to include a large renovation budget, which enabled the borrower to complete the necessary property improvement plan (PIP). The borrower is a privately held, Illinois-based hospitality management company.