Arriba Capital announces that it recently closed a $15,900,000 ground-up construction loan for a 103 key Springhill Suites in South Carolina.
The 3-year loan was sized to 80% LTC. The property is in close proximity to Fort Jackson, the U.S. Army’s main production center for Basic Combat Training.
The installation trains roughly 50 percent of all Soldiers and more than 60 percent of women entering the Army each year.
The Borrower is an experienced, privately-held, hospitality management and development group based in the Southeast. Arriba has financed multiple projects for the Borrower.
Arriba Capital is a fully-integrated, commercial real estate finance and investment company. We provide asset management, investment banking, capital markets services and advisory solutions. Our seasoned professionals – many of whom have more than 10 years of experience, have worked with hundreds of developers and investors by offering insight and analysis for structuring projects, repositioning assets, negotiating payoffs and providing guidance to enable our clients to achieve successful results in these rigorous markets. Our track record of completed transactions speaks volumes in our ability to execute and deliver competitive and innovative realty capital.