|By PR Newswire||
|September 19, 2013 08:45 AM EDT||
CINCINNATI, Sept. 19, 2013 /PRNewswire/ -- Hyde Park Commercial Group, a Cincinnati-based advisory firm, is pleased to announce the closing of a $3,850,000 loan for a 188-room un-flagged hotel to be flagged a Clarion by Choice Hotels in Indianapolis, Indiana. The hotel was an un-flagged hotel facing a loan maturity and desire to join a franchise with a strong central reservation system. Through due diligence, Hyde Park CG was able to work with the sponsors to bring in Choice Hotels, assist to obtain a Clarion flag, recommended a new management company, GC, owners rep, and assist with renovation and FF&E quotes. The loan was arranged through a specialty lender and allowed the ownership loan proceeds to complete a total renovation plan, and refinance their existing debt. This PIP and recapitalization loan was completed start to finish in less than 30 days.
Hyde Park CG arranges capital through a broad range of capital sources from hedge funds, life companies, CMBS, private investors, SBA, to regional and national banks. Hyde Park focuses on debt placement for improved commercial real estate properties and business finance transactions nationwide.
For more information visit: http://www.hydeparkcg.com. Hyde Park CG can be reached at 513.792.2940.
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SOURCE Hyde Park Commercial Group