Columbus, Ohio (PRWEB) May 19, 2013
Hyde Park Commercial Group, a Cincinnati based advisory firm, is pleased to announce the closing of a $1,500,000 loan for a 60 room La Quinta Inn & Suites in Columbus, Ohio. The loan was arranged through a specialty lender, and allowed the ownership loan proceeds to work in conjunction with their 1031 exchange for the acquisition. The loan provided the sponsorship the opportunity to acquire and renovate the hotel within the 1031 time frame, which will prepare the hotel for a future exit into the long term debt markets. The loan featured an interest only period with no prepayment penalty.
Hyde Park CG arranges capital through a broad range of capital sources from hedge funds, CMBS, conduits, private investors, SBA to regional and national banks. Hyde Park focuses on debt placement for improved commercial real estate properties and business capital transactions nationwide.
For more information visit: http://www.hydeparkcg.com. Hyde Park CG can be reached at 513.792.2940.