Loan amount
$2,500,000
Loan type
Refinance
{Construction}
After Repair Value
$7,600,000
ARV
33%
{ARV}
Property type
Hotel
Borrower Details
Credit score
720
Deal experience
10 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Lock Haven
State
Pennsylvania
Loan Details
Current mortgage balance
$0
Cost of improvements
$2,500,000
Estimated property value after repairs
$7,600,000
Additional Loan Information
Historic hotel recently flag by choice hotels luxury collection Ascend. Property has 107 keys 2 bars restaurant and store front. Property is currently vacant. The property is owned free and clear. We currently invested 350,000 toward Purchase, structural construction as well as the Roofing, plumbing, heating. and preventative maintenance.
Status
Open
Created
January 24, 2022 - 5:33pm
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