HALL Structured Finance has closed a $53 million construction loan to finance the expansion, redevelopment, flagging and rebranding of CopperWynd Resort.
For private lender HALL Structured Finance, the third-largest hotel construction lender in 2017, borrowers who can prove that they have an organized, solid project plan and track record of success in the hospitality market will attract more lenders and have their loans executed sooner.
The new 112-room hotel is anticipated to open in summer 2019, while the nearby 48-unit townhome project is expected to be completed by October 2018. The sponsorship is comprised of local Watsonville businessman Sonny Tut and his two sons.
As spreads compress and costs ride, hotel lenders are opting for more flexibility. Find out how HALL Structured Finance remains competitive in the growing hotel finance market.
From geographical to asset type, diversifying is really about balancing risk for both lenders and investors, HALL Structured Finance’s Mike Jaynes tells GlobeSt.com.
March 23, 2018
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