Description

A sponsor received a $2-million acquisition bridge loan to purchase a Days Inn by Wyndham hotel property located at 508 Southeast Blvd. in Clinton, NC. The hotel is conveniently located off interstate

I-40 at the intersection of Business 701 and US 24 East, with easy access to Fayetteville and Raleigh. The loan was made at an 8.99% rate, at a one-year-term. The loan allowed the sponsors to close in a short period and purchase this property at a 10% cap rate.

• Loan Amount Range: $1M - $4.99M