CHICAGO—Aries Capital’s executive VP Rushi Shah secured a senior bridge loan for $5.4 million for the refinance of three limited service hotels in Pensacola, FL. The borrower, LHS Companies, will use the proceeds to renovate and reflag the Florida Panhandle properties.
“The well-located hotels were purchased 15 years ago as part of a larger portfolio,” said Shah. “Through our successful negotiations, our client was able to finance an existing note at an amount below the outstanding debt. LHS now has the necessary funds to fuel its future growth and rebrand.”
This transaction was closed under the Aries Capital/AAHOA Member Financing Program. Dinesh Gandhi is a referral partner for Aries Capital.