Featured Transactions:

Remington Financial Group arranged $4.5 million in debt/equity bridge financing for an 11-story, 249-room full service hotel for one of the world’s top 15 hotel companies. The hotel had been closed due to electrical and mechanical problems, and even before it closed, 100 rooms were not in operation because they were in a state of disrepair. The first mortgage on the property was in default, and the lender was preparing to foreclose when Remington Financial delivered $4.5 million in financing to the principal of the hotel. As a result, the hotel will continue to operate and will be the only high-rise indoor corridor property under the company’s flagship name in the Midwestern United States. RFG arranged a JV with our lender to provide debt and equity financing to refi and renovate the hotel. The lender / lender invested a total of $6 million over an 18 month period and the hotel was recently sold for over $12 million.

The senior living property operators planned to implement higher-margin services to tenants in the acquired facilities and to provide higher-quality food services, which were expected to improve the profitability of the facilities. The institutional property owner and investor, partnered with the senior living property operators with the expectation that the project would deliver strong upside. The investor also felt comfortable partnering with developer based on its past experience working with the company on previous ventures.

RFG secured $140 million in financing for one of the nation’s largest privately held real estate investment and development companies and one of the country’s most experienced and reputable senior living companies. READ MORE