Aries Arranges $5.4 Million Hotel Bridge Loan for Florida Panhandle PropertiesJuly 11, 2016
Aries Capital’s Executive Vice President Rushi Shah 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,” said Shah. “Through our successful negotiations under a tight timeline, our client was able to finance an existing note at an amount below the outstanding debt. LHS now has the necessary funds to fuel its future growth and rebrand.”
“Rushi got this deal done,” said a representative of LHS. “He explored every potential scenario to make sure we walked away in the best position possible. Our former banker Dinesh Gandhi referred us to Rushi and we are very thankful for the valuable introduction.”
This transaction was closed under the Aries Capital/AAHOA Member Financing Program. Aries Capital is the exclusive partner for this valuable member-benefit program. Dinesh Gandhi is a referral partner for Aries Capital.