Memphis Holiday Inn Recapitalization
$10,000,000
Memphis, TN
- Loan Type: Recapitalization Financing
- Property: Full service hotel with 256 rooms and 25,000 square feet of meeting and banquet space.
- Scenario: Trevian's loan was used to pay off matured and defaulted first and second mortgages and to pay off various additional liens and obligations that resulted from a required PIP taking longer to complete and costing more than anticipated.
- Result: Trevian lends on recently renovated assets that need to be seasoned prior to being refinanced via local bank, agency, CMBS or other conventional sources.
