Regency Capital Partners

Hampton Inn & SpringHill Suites


Hampton Inn & SpringHill Suites

Summary

Regency Capital Partners (“RCP”) 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, RCP was able to secure them financing from a major domestic 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, RCP was able to secure 80% non-recourse financing priced at an extremely low spread over LIBOR.


Transaction Details

LOAN AMOUNT $27,800,000
FINANCING TYPE Bridge
LENDER TYPE Domestic Bank
PROPERTY TYPE Hospitality
PROPERTY ADDRESS
Map
1901 West Orangeburg Avenue
Elk Grove & Modesto, CA
PROPERTY DESCRIPTION A newly opened Hampton Inn & Suites located in Elk Grove containing 110 guest suites; along with a 111 room SpringHill Suites located in Modesto, CA.