Pioneer Realty Capital Arranges Construction Loan for Candlewood Suites Hotel
Monday January 13th, 2014 - 12:22PM SB
| | | | | | | | | | |
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
SAN ANGELO, TX—Pioneer Realty Capital, LLC, a Texas-based commercial mortgage intermediary and non-bank lender, has closed a $5.5-million new construction loan for a Candlewood Suites limited service hotel to be located here.
The loan was successfully arranged by negotiating a debt structure with participating lenders designed to significantly minimize risk during the construction period.
The Pioneer Realty Capital, LLC team worked closely with its network of capital and participating partners to address concerns over perceived risk exposure during the construction period. In an effort to mitigate this risk, Pioneer Realty Capital designed a capital structure that involved using a construction "bridge-loan" lender to fund the project during the majority of the construction phase, thus greatly minimizing risk to capital partners.
"Pioneer Realty Capital's knowledge of the industry, deep network of capital partners and ability to properly analyze and structure loan requests proved to be the key to successfully funding this project," stated Randeep Grewal of Grekan Hospitality.
Tags: Pioneer Realty Capital • Candlewood Suites • Hospitality • Brands • Sources of Funding •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.