Black Bear Capital Partners ("BBCP") Secures $13.3M Refinance for Dual-Branded Hotel in Avondale, LA

The asset involved in this transaction is Candlewood Suites & Suburban Inn located in Avondale, LA. This hotel has a total of 181 keys and is being refinanced for an amount of $13,300,000. The loan is structured with 18-months of interest-only payments, followed by a mini-perm, with a loan-to-value ratio of 70%.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $13,300,000
• Loan Type: Refinance
• Loan Terms: 18-month interest only followed by a mini-perm at 70% LTV
• Capital Markets Advisor: Suraj Desai - Black Bear Capital Partners
• Date: 08/28/2024
• Address: Candlewood Suites & Suburban Inn – New Orleans

Suraj Desai from Black Bear Capital Partners played a key role in advising on this transaction, facilitating the refinance process for the property. The deal underscores the activities of investment professionals within the capital markets sector.