$2MM – Hotel – Clinton, NC

  • Loan Amount: $2,000,000
  • LTV: 62%
  • Interest Rate: 8.99%
  • Term: 1 year

Description

A sponsor received a $2-million acquisition bridge loan to purchase a Days Inn by Wyndham hotel property located at 508 Southeast Blvd. in Clinton, NC. The hotel is conveniently located off interstate

I-40 at the intersection of Business 701 and US 24 East, with easy access to Fayetteville and Raleigh. The loan was made at an 8.99% rate, at a one-year-term. The loan allowed the sponsors to close in a short period and purchase this property at a 10% cap rate.

  • Loan Amount Range: $1M - $4.99M

This style property is located in Clinton is currently and has been listed on Avatar Financial Group. This property is listed at . It has bedrooms, bathrooms, and is . The property was built in year.

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