Krishna Balakrishnan Secures $3,350,000 Refinance Loan For 70-Key Hotel In Bloomington

The asset involved in this transaction is a 70-key hotel that was previously branded as a Best Western, located at 1413 Leslie Drive, Bloomington, IL 61704. The property has undergone a reflagging to Spark Hilton and is undergoing refinancing to enhance financial structure.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $3,350,000
• Lender: Brookview Financial
• Borrower: Krishna Balakrishnan
• Capital Market Advisors: Frederick Johnson, Matthew Stearns, Zach Lutwak-Fitzgerald & Michael Bernstein - Black Bear Capital Partners
• Loan Type: Refinance
• Loan Terms: 6-month, floating-rate loan with competitive terms
• Existing subordinate piece of debt remains in place

Key individuals involved in this transaction include Frederick Johnson, Matthew Stearns, Zach Lutwak-Fitzgerald, and Michael Bernstein, all from Black Bear Capital Partners, who played a critical role in structuring the refinancing of the hotel asset, ensuring optimal financing solutions were implemented for the borrower.