Hotel financing
Hampton Inn
CMBS refinance with cash-out · Closed in 35 days
- Loan amount
- $18,500,000
- Flag
- Hampton Inn
- Structure
- CMBS + cash-out
- Term sheet to close
- 35 days
- Term
- 5 years, interest only
- Market
- Arizona
The story
Ten-plus term sheets. One 35-day close.
Bridge closed an $18.5 million CMBS refinance with cash-out on a Hilton extended stay in Arizona, from signed term sheet to close in 35 days.
01 · The opportunity
A Hilton extended stay ready for permanent CMBS.
The sponsor needed to refinance a Hampton Inn in Arizona, a Hilton extended-stay asset, and take cash out in the same closing. The right structure was CMBS: a five-year term, full-term interest only, sized at $18.5 million.
The expensive outcome on a refinance like this is not a slightly higher coupon. It is a file that sits in market while the lock moves, or a single-lender process that never produces a term sheet the sponsor can actually close.
02 · The challenge
Compare the market, then pick one path.
CMBS desks price the same hotel differently depending on leverage, DSCR, brand, and how clean the package is. Sending one teaser and waiting is how owners lose the window.
This file needed the market shown side by side, then a single execution that held from term sheet through closing.
03 · The outcome
$18.5 million closed in 35 days.
The loan funded as a CMBS refinance with cash-out on the Arizona Hampton Inn. Five-year term. Full-term interest only. The sponsor left with permanent debt and cash out, not another maybe.
Term sheet to close35 days$18.5M CMBS refinance with cash-out · Arizona
Key results
- $18.5M CMBS refinance with cash-out closed in 35 days
- More than ten term sheets compared side by side
- Five-year term, full-term interest only
FinancingFinancing Secured by Bridge
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