Sea Foam Hospitality Bridge

Panama City
,
FL
85% LTC, I/O
Motel pool surrounded by cement walls and a fence
Amount: $
1080745
Interest Rate: 
9.49
%

StackSource recently arranged a $1,080,745 bridge loan to fund the acquisition and repositioning of a 15-unit short-term rental property located in Panama City Beach, FL, currently operated as a motel.  The sponsor plans to complete roughly $330,000 of capital expenditures to bring the property back online as a boutique short-term rental utilizing sites like Airbnb, VRBO, and their own booking website. The same sponsorship group has implemented this strategy successfully with their other short-term rentals properties in the Florida Panhandle. Capital Advisor Andrew Bouton worked with a debt fund who provided a 12-month interest-only loan at a 9.49% fixed rate for 85% of the total project cost.

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