Grand Junction Hotel Conversion

Grand Junction
,
CO
100% LTC, interest-only bridge
Amount: $
1740000
Interest Rate: 
10.5
%

StackSource arranged bridge financing for hotel conversion to mixed-use property. The sponsor plans to redevelop the 25-room historic hotel into a combination of short-term and long-term rental units. The sponsor is an experienced investor and developer based in Denver, with a focus on value-add residential and commercial properties. StackSource Capital Advisor Jaideep Chadha was able to secure a full-term, interest-only bridge loan at 10.5% and 100% LTC on construction funds. The sponsor owned the hotel outright with no cashflow in place at the time of closing.

Charitable Cause supported by 1% of StackSource's revenue on this transaction: