Greg Gray, Daniel Yeghiazarian, and Dan Friedeberg of Barry Slatt Mortgage Company recently arranged a $32,000,000 bridge loan secured by the 61 key Park James Hotel in Menlo Park, California.
Barry Slatt was awarded the assignment over its competitors due to certainty of execution, 30-day closing period, maximum loan dollars, minimal 3rd party reports, prepayment flexibility, and ultimately, a strong relationship with the borrower that has spanned over 20 years and multiple financings. The financing was sourced through one of Barry Slatt Mortgage Company's national debt funds. The bridge loan provided the private investor with a non-recourse 3-year fixed-term with extension options, interest-only, no exit fee, and a loan structure that met the property's needs in order to assist with maximum cash flow as the Hotel reaches stabilization and becomes one of the premier assets on the San Francisco Peninsula.
