The A&R Group, represented by Ken Patel and Zach Hoyt, has secured a $63 million non-recourse cash-out refinance for their portfolio of nine select service hotels located in Gulf Shores, Alabama. The deal was closed by Mag Mile Capital, with Rushi Shah and Prabhat Jayara serving as the brokers.

Summary of transaction details

• Property Type: Hotel
• Loan Amount: $63,000,000
• Loan Type: Refinance
• Loan Terms: 10 years fixed, 4 years Interest Only, 30 year amortization
• Cash Out Amount: $19,000,000
• Market: Gulf Shores, AL
• Lender: Societe Générale, Bank of Montreal, and Goldman Sachs
• Landlord: A&R Group - Ken Patel & Zach Hoyt

Mag Mile Capital successfully assembled a syndicate of three lenders for this transaction: Societe Générale, Bank of Montreal, and Goldman Sachs. The loan terms include a ten-year fixed period, with the first four years being interest-only, followed by a 30-year amortization schedule. The non-recourse nature of the loan provides added security for A&R Hospitality.

Contact Rushi Shah for further discussions regarding the details of this deal.