Aries Capital has secured a ground-up construction loan in the amount of $5,000,000 for a new, 83-room hotel located in Round Rock,Texas.

“Given the Borrower’s experience and success in hotel development, Aries Capital was confident in arranging and securing the financing necessary to fund this ground-up construction project,” said the Aries originator. “The additional capital provided by the Borrower also enabled our team to structure a loan with a 71% loan-to-value ratio.”

The new 83-room Microtel, owned by Longhorn Lodging Partners, is being constructed in Round Rock which is just north ofAustinin centralTexas. 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.

“We worked with Aries Capital on previous ground-up construction transactions and given this very difficult climate to obtain hotel construction financing, they proved to be creative and thorough in their approach to our needs. We were very pleased to have been able to work with Aries again for our third successful closing with them on these projects,” said Ted Torres, President of Caerus Hospitality.