Location: West Hollywood, CA
Loan Amount: $86.74M
Loan Type: Acquisition
Property Type: Hospitality
Challenge iBorrow Solved:
The sponsors needed a creative and flexible lender to work with them to finance a $100MM+ purchase of a large, well-located and iconic hotel that had been closed for several years. Despite certain entitlement risks, iBorrow was able to close its funding on time and provide a full interest reserve to cover the borrower’s debt service payment requirements. This loan will carry the property through the planning and permitting process.