Remington Financial Group, Inc. Hospitality Sector
The hotel business can present tough challenges for borrowers and lenders alike. It is not uncommon for hotels to require large amounts of capital for renovations, upgrades or expansions, while facing crucial downtime to fully implement those projects. Downtime in the hotel business often translates into lost or reduced revenues, which can impact the ability of a hotel property to secure financing in a timely fashion, or under favorable terms.
Remington Financial (RFG), a firm that specializes in commercial real estate investment, is a friend to the hospitality industry. Remington has a strong history of providing timely financing under favorable terms to hotels with challenging financing considerations.
Remington Financial Group has been at the vanguard in helping borrowers within the hospitality industry meet their needs by securing the financing for projects that are simply too risky or challenging for conventional lenders. Remington has been crucial in bringing financing to challenging projects across the United States. Some examples include:
RFG was the force behind securing nearly $6.5 million in acquisition and mezzanine financing for a 150-room hotel in Massachusetts owned by one of the leading hotel companies in the world.
Remington Financial Group helped a hotel brand with more than 1,300 locations throughout the United States, Canada, and Latin America secure $7 million in acquisition financing of two full-service hotels in Georgia.
A Las Vegas-based hotel and casino turned to Remington to procure acceptable terms on a $19 million bridge and mezzanine financing.
A 130-room New York hotel that is owned by one of the premier hospitality brands in the world found that RFG was the one who met its needs for the delivery of $13 million in construction financing for a much desired project.
When a full-service, 375-room hotel in Georgia that is owned by a brand known by travelers worldwide needed $22 million in floating rate acquisition financing, they turned to Remington Financial Group to get them the terms they needed.
When a real estate investment trust (REIT) and owner of nationally franchised mid-scale and upscale hotels needed to secure $23.5 million in permanent financing, only Remington could fund the loan under terms the REIT could happily accept.
For the $40 million in portfolio acquisition financing for its properties in Massachusetts, Washington D.C., Maryland, and New York, a large hotel investment company turned to RFG to secure the financing on time and under favorable terms.
To arrange for $56 million in recapitalization and mortgage refinancing for a portfolio of four hotels in Orlando, Florida, one of the world's top hotel companies turned to Remington Financial Group to provide the financing in a timely manner under terms that were agreeable.
When a major casino and resort hotel in Las Vegas, Nevada needed $19.5 million in senior and subordinate financing, it was Remington that delivered a finance package that the casino owners found both timely and acceptable.
About Remington Financial Group, Inc.
The extensive success of Remington Financial Group (RFG) in securing hospitality-based financing stems from its well-established relationships with highly-regarded domestic and foreign based private and institutional capital sources. Our extensive lender network - combined with market expertise and a highly disciplined due diligence and transaction process - means our hospitality clients benefit from integrated financing with terms that are, at times, superior to conventional approaches.
Knowing that hoteliers and other hospitality professionals can't afford long periods of downtime, RFG works to streamline and expedite the process of securing funds. Additionally, throughout the due diligence and financing process, Remington seeks to provide customers with a clear picture of the status of their transaction and any costs associated with it. RFG proactively works to overcome obstacles before they become barriers to a successful close. Delivering exceptional service throughout the process, Remington offers a variety of creative financing options with highly competitive rates for:
Conventional financing | Hard-money loans | Bridge loans | Construction loans
Representing clients exclusively, Remington carefully manages the formation of all tiers of capital, so they are uniquely structured and tailored for every hospitality transaction. This process saves clients time and money while significantly reducing transaction risk. Time and again, Remington has delivered refined capital solutions to complex commercial real estate transactions, which other sources would not have considered.
When it comes to existing deals that may be at risk, Remington can also help revitalize them with our expert advisory services or assist with a comprehensive set of financing programs including origination, evaluation, transaction structuring, preparation and underwriting, negotiation and coordination of placement, and closing processes.