Hotels/Motels
Financing for hotels and motels has been more difficult in during these times of tighter credit. Our lenders look for experienced, knowledgeable owners and operators and prefer nationally recognized flags. The historic operating results for the property and market trends for newer properties must support the loan amount.
Current Rates (07/30/2010)
- Apartments 4.84%
- Mobile Home Park 5.04%
- Anchored Retail 5.49%
- Non-Anchored Center 5.14%
- Single Tenant Retail 5.09%
- Office 5.14%
- Industrial / Flex 5.04%
- Self-Storage 5.44%
- Medical Office 4.94%
- Hotel 6.94%
- Owner Occupied 4.94%
- Land 8.94%
- Other 6.69%
Rates are based on a $2 million loan, 25 year amortization, 10 year fixed rate term. For apartment complexes, a 30 year amortization is available.
Current News
The Second Quarter Ended on a Soft Note
The economic data out of Europe also brightened significantly, reducing market fears of a double-dip in Europe.