DALLAS, TX— Hall Financial Group’s 2002 mezzanine debt and equity program is reportedly calling for the origination and placement of $100 million in loans, with a substantial primary portion of that capitalization to be directed toward existing hotels. According to Hall Financial Group Chairman Craig Hall, the company will be placing a greater emphasis on originating mezzanine debt and equity investments this year, in line with what has been perceived as a “need for greater funding between the current first-mortgage loan levels and equity than in the past….” Among the general program terms for existing hotel projects are: loan sizes ranging between $2 million – $20 million; loan-to-value of up to 75% (including underlying debt); and a direct lien on the real estate and/or a pledge of partnership or equity interests.
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