Hotel Construction Finance
Hotel Construction Finance
Is there money for hotel construction financing? Absolutely, yes. You have to know where to find out and this is the biggest challenge for hotel developers. They normally start, by approaching their local bank. Unfortunately, the local bank only wants to consider SBA 7a and 504 loans. However, it just so happens, your project is over the SBA qualifications, as a result, you are out, of luck. You can try EB5 financing, but that takes a long time to raise, the money. The solution is investment firms, or life insurance companies. Insurance companies can be a good source, however they are usually pretty conservative and offer between 55-65%LTV. Furthermore, they want your project to be in a major market, versus a secondary market. For some smaller developers, they want a higher LTV/LTC.
As a mortgage broker, we have three of the highest percentage construction loan products, starting at 75%LTV, in the market. In some cases, we can go up to 85%LTV with a Prefered Equity component attached to the first lien. These products can accomodate both major and secondary markets. The minimum loan amount is $8Million and loan origination fees can range from 1-2points. Upfront fees? None. Other than the usual, third party fees, upon acceptance of a "commitment letter."
For larger hotel construction projects, we offer a JV product. If you have any questions about these hotel construction loan products, you can send your questions to: Jesse Nevarez:suncoastcapital@gmail.com
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
