Deal Closing: $1.25MM Acquisition Loan for Fairfield Inn & Suites in Ohio

We are pleased to announce the successful closing of a $1,250,000 conventional acquisition loan for the Fairfield Inn & Suites hotel in Ohio. 
This transaction involved a seasoned hotel investor with a portfolio of 10 properties across the Northeast. Jeff Baik, Managing Director at HTL Hospitality Advisors, executed a smooth closing despite two main challenges:
Leasehold interest – Property was a leasehold interest with only 22 years remaining
Tight timeline—Sponsor won the bid on Auction.com and needed to close quickly after securing a one-time extension. 

Jeff Baik shared:
“We quickly identified a local lender who provided a 75% LTV loan with a 5-year term at a competitive fixed rate. This enabled our client to acquire the asset below replacement cost with a quick closing of 57 days to meet the deadline.”
Another strong execution for a new client and a great example of creative structuring under time pressure.

Please contact Jeff Baik at jbaik@htlha.com for real estate and hotel loans, and to learn more about HTL’s current off-market note sales and value-add opportunities. 
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