Why we like this deal?
5 star resort hotel with all amenities being constructed on a 5 acre property at one of the top 10 destinations in the US on the beautiful Monterey Peninsula in CA. This will be the only 5 star resort in the city and the strict design and architecture standards will make it only the 7th hotel worldwide to carry a LEED Platinum certification. Large tourist volume combined with highly affluent visitor base makes this an attractive investment opportunity.
Borrower team has extensive experience in development/construction of several billion $’s of projects worldwide.
The loan to value (LTV) provides a 65.1% cushion of equity.
This opportunity presents an investor with a commercial note at 15% for 7 years, secured by a recorded first mortgage lien or deed of trust on this property.
Why the bank can’t lend
|Loan Term:||7 years|
|Source of Income:||Hotel rents, restaurant & shop revenues|