The purpose of this sub-participation loan is the refinance of a 1st DOT loan for a 5-story, 180-room hotel. The hotel is a limited-service lodging facility totaling 60,629 square feet building and features 108 rooms, a breakfast dining area, 700 square feet of meeting space, an indoor pool and whirlpool, a fitness room, a business center, a market pantry, a guest laundry room, and vending areas. The hotel also contain the appropriate parking capacity of 110 surface parking spots consisting of 91 on-site and 19 off-site spots. The hotel is located in California, near the most prominent intersection of the city and within 7 miles of an International Airport.
|Loan Term||10 yrs|
|Participation Availability Amount||$7,372,000|
|Minimum Participation Amount||$250,000|
|Original Loan Amount||$9,215,000|
|Full Loan Documentation||Link|