Eli Weisblum & Paul McCormick Secure $8.98M Refinance Loan For Shelby, NC Hotel

The hotel property located at 1715 E Dixon Blvd in Shelby, NC has undergone a loan refinance transaction. The property comprises 86 keys and is represented by Eli Weisblum & Paul McCormick of Ariel Property Advisors.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $8,975,000
• Loan Type: Refinance
• Loan Terms: 65-percent LTV, five-year term with a five-year option, fixed rate of 4.5 percent interest

The refinance deal was successfully facilitated with a loan amount of $8,975,000. The loan terms include a 65-percent loan-to-value (LTV) ratio, a five-year initial term with a five-year option, and a fixed interest rate of 4.5 percent. Eli Weisblum & Paul McCormick of Ariel Property Advisors played a crucial role in representing the parties involved in the transaction.