National Capital, LLC

Creative Financing for Innovative Ideas

Fixed Rate

Hospitality Program

 

Property Type Flagged and Non-Flagged, Full and Limited Service Hotels.

 

Loan Size - $5,000,000 or greater

 

Security First mortgage on the Fee Simple Interest.  Leaseholds will be considered on a case by case basis.

 

Loan Terms 5, 7, or 10 (15-year fully amortizing)

 

Amortization Up to 30 year amortization

 

Debt Service Coverage Ratio Minimum DCSR 1.30x

 

Borrower Generally, must be a bankruptcy remote, single purpose entity.  Non-recourse to Borrower and Key Principals except for standard carve-outs including fraud, misapplication of funds, environmental and voluntary bankruptcy.

 

Maximum Loan to Value 75%

 

Loan Escrows Taxes and Insurance and FF&E Reserves. Seasonality reserves may be required.

 

Reserves at Closing The Borrower shall establish a deferred maintenance reserve account at closing equal to 125% of required deferred maintenance repairs.