Motel-to-Multifamily Portfolio
Advisors:
Todd McKenna
Location: Southeast Region
Lender type: CMBS
Property type: Motel-to-Multifamily Conversion
Transaction type: Refinance
Loan amount: $23,650,000
TRANSACTION DESCRIPTION
Slatt Capital Commercial Mortgage Banker Todd McKenna, along with analyst Dominic Sestito, recently arranged the $23,650,000 refinance for a portfolio of 10 motel-to-multifamily conversion properties in the Southeast. The Sponsor’s desire for maximum proceeds, full-term interest only, and non-recourse made this request an ideal candidate for CMBS execution. Add to that a few unique structural requests that Todd and the Slatt Capital team negotiated, and our client was very happy with the financing package provided.
