Pioneer Realty Capital Arranges Construction Loan for Candlewood Suites Hotel
Monday January 13th, 2014 - 12:22PM SB
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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 •
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