Announcing A Successful Hotel Financing Winston Rowe & Associates
Winston Rowe & Associates is pleased to announce that we have successfully closed a loan for a Motel 6 purchase in San Antonio Texas.
Winston Rowe & Associates was able to get this loan closed under an SBA (7) a loan program in less than 7 weeks.
For more information about Winston Rowe & Associates and their commercial loan programs, they can be contacted at 248-246-2243 or visit them on line at http://www.winstonrowe.com
Motel 6 Transaction Details:
Funding was completed within less than 7 weeks from the application date
The loan amount was $1,350,000.
Loan to value was 75%
113 room, two story, exterior corridor, limited service hotel with excellent visibility & accessibility, strategically located on Interstate 35 in San Antonio, Texas
Below Replacement Cost: In-contract at $1,800,000, or $39,130/room. Replacement cost can be approximated at $2.53 Mill ($55,000/room)
Prime Location: The property is located on US 77 highway with great visibility and accessibility. Sinton, also known as “Gateway to Gulf Coast” is 28 miles northwest of Corpus Christi
At Winston Rowe & Associates, their primary objective is to provide the most reliable and efficient means of sourcing both debt and equity for your commercial real estate loans.