Black Bear Capital Partners Secures $12.9M Refinance Loan For Avondale Hotel Portfolio

The two-property hotel portfolio located at 3079 Highway 90 and 3051 Highway 90 in Avondale, LA recently underwent a refinancing transaction. The properties, consisting of a total of 181 keys, were refinanced through a 12-month floating-rate loan. The loan amount for this transaction was $12,900,000, and the terms of the loan included interest-only payments for the entire duration of the loan term.

Summary of transation details

• Property Type: Hotel
• Transaction Amount: $12,900,000
• Address: 3079 Highway 90 & 3051 Highway 90, Avondale, LA
• Market: Avondale, LA

The refinancing deal for the hotel portfolio was facilitated by Suraj Desai of Black Bear Capital Partners. As the broker representing the transaction, Suraj Desai played a crucial role in securing the favorable terms and conditions for the loan. The involvement of Black Bear Capital Partners highlights their expertise in hotel property financing and their ability to guide clients through successful refinancing deals.