Shaun Jepsen closed this $5,260,000 acquisition loan on a hospitality property located in Hoepwell, Virginia.
Acquisition financing for a 1031 exchange buyer. Property does not have a national flag and is located in a smaller city, but it does have 10 years of operational history, a superior extended stay suite floor-plan in the market, and a strong demand driver with a local military base. We arranged a non-recourse loan with a structured component to handle the future PIP/replacement reserve needs.