Aries Capital has secured a $4,800,000 ground-up construction/permanent loan for a new, 83-room hotel located in Buda,Texas. The loan features a 73% loan-to-value ratio and is the third ground-up construction loan Aries Capital has structured for this borrower.

The new 83-room Microtel, owned by Longhorn Lodging Partners, is being constructed in Buda which is just south of Austin off of Interstate 35. The property will be managed by Caerus Hospitality Partners. Microtel is part of the Wyndham Hotel Group and is a select-service economy hotel brand with hotels in 46 states and five international countries.

“This is our third successful project in the state of Texas for the Borrower, and Longhorn and Caerus have solid records for successful hotel development,” said the Aries originator. “These two factors made us confident in arranging and securing the financing necessary to fund this project.”