Hampton Inn and Spring Hill Suites
Arranged a $27.8 million bridge loan for the acquisition of a Hampton Inn and Spring Hill Suites in Elk Grove, CA and Modesto, CA, respectively. Though the Borrowers were a group of independent hotel operators, we were able to secure them financing from a major investment bank which enabled them to compete with several major operators and ultimately win the competitive bidding process to purchase the assets. Although the two hotels were newly completed and yet to be stabilized, Regency Capital Partners was able to secure 80% non-recourse financing priced at an extremely low spread over LIBOR.