Aries Conlon Capital is pleased to announce that the national commercial real estate mortgage and investment banking firm has closed on a $ 5.7 million permanent loan at a below - market 4.3 % interest rate for a Holiday Inn Express in Ontario, Oregon; a $ 7.5 million, interest - only bridge loan for the leasehold portion of the Radisson Hotel Cromwell in Cromwell, Connecticut; and an $ 8.8 million, non-recourse,
CMBS permanent loan for a Hampton Inn in Gulf Shores, Alabama.
The 10 - year fixed rate,
CMBS permanent loan featured a 30 - year amortization and was closed at 65 % Loan - to - Value (LTV).
Not exact matches
At the time of the deal, Centro execs figured they could phase out the short - term bridge
loans with
permanent financing via a combination of new lines of credit and the use of commercial mortgage - backed securities (
CMBS)
loans on its properties.
He reports that Key, which has traditionally done only construction lending, did about $ 600 million in
permanent loans through the
CMBS market last year.
During his tenure heading up a
CMBS lending platform, an equity investment platform, a bridge
loan fund and most recently an SBA 504 non-bank lending company Mr. Soares has underwritten
permanent, interim and equity financing on all classes of commercial real estate assets and hotels.