"This lending product will fill a gap in the real estate capital industry for hospitality projects that is much needed today," says Jake Clopton, president of Clopton Capital.
(PRWEB) April 03, 2012
Clopton Capital is announcing the addition of a highly versatile hotel construction lending program to it's portfolio of real estate capital. Through a newly formed correspondent relationship, the Chicago based commercial real estate finance company is planning to meet a high demand for hotel finance and construction which is virtually nonexistent in the marketplace today. The construction program will be targeted at projects ranging in size from five million dollars, up to twenty million with higher amount on a case by case basis. The strike zone for project size is anywhere in the stated dollar range with no preference for smaller or larger projects. There is no geographic constraint to where the projects can be located and nationwide projects will be considered and accepted. During the construction period, low interest rates will be charged and the term will range from 12 to 24 months. Once the construction term expires, the loan will automatically roll into a mini-permanent loan which has the option to be non-recourse.
"This lending product will fill a gap in the real estate capital industry for hospitality projects that is much needed today," says Jake Clopton, president of Clopton Capital. "There are very few outlets for hospitality construction currently and those that do exist do not have the versatility or flexibility of ours. We are hoping to take the lead in the hospitality construction finance recovery with the only nationwide, non SBA backed, hotel construction finance product that rolls into a mini-permanent non-recourse loan. We are targeting middle market projects with no particular management flag, just good operators with good projects."
Clopton Capital's number one principal value is to stay at the forefront of the real estate capital market, evidenced by the addition of this product at a time when most institutions are staying far away from the hotel finance sector. Based out of Chicago, the company offers a diverse range of commercial real estate loan products to nationwide owners and investors. For more information about Clopton Capital’s loan services visit their website dedicated to them at CloptonCapital.com.