Aries Arranges $5.4 Million Hotel Bridge Loan for Florida Panhandle PropertiesJuly 11, 2016
Aries Capital has secured a senior bridge loan totaling $5.4 million for the refinance of three limited service hotels in Pensacola, Florida. The borrower, LHS Companies, will use the proceeds to renovate and reflag the Florida Panhandle properties.
The well-located hotels were purchased 15 years ago as part of a larger portfolio. Under a tight timeline, the client was able to finance an existing note at an amount below the outstanding debt, giving LHS has necessary funds to fuel its future growth and rebrand.