ValueXpress has arranged a $5,500,000 CMBS conduit loan for the refinance of a four-story Hampton Inn hotel constructed in 2015. The loan provided an opportunity to pay off an existing SBA 504 loan and some additional high-cost construction debt. The new loan features a lower monthly payment based on its lower interest rate and longer amortization period (30 years).
The property is located off I-20, south of Jackson, Mississippi. Area attractions include Trustmark Park, the Jackson Convention Complex, and the Mississippi Museum of Natural Science. The hotel was constructed to Hilton’s “Forever Young” program initiative, which includes the “Perfect Mix” lobby and “Jumpstart” Fitness Center. The hotel is a high performer, earning a number-one ranking on TripAdvisor and achieving a 109% RevPAR penetration rate.
The loan was originated by Jay Bhakta, Senior Loan Originator, and Mike Sneden, Executive Vice President at ValueXpress. For your next hotel loan, contact Mike at 212-883-6447 (mikes@valuexpress.com) or Jay at 601-918-2850 (jayb@valuexpress.com).
