Meir Abrahamson Of Eastern Union Arranges $20.4 Million Refinance For Hotel Conversion In Plano

The property involved in this transaction is a hotel located at 700 Central Parkway East in Plano, Texas. The asset comprises 137 units situated on 2.27 acres. The loan amount for the transaction is $20,400,000 for refinancing purposes.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $20,400,000
• Units: 137
• Acres: 2.27
• Market: Plano
• Loan Type: Refinance

Meir Abrahamson from Eastern Union represented the refinancing arrangement, which includes a $15.8 million permanent loan and a $4.7 million bridge loan. The arrangement involved creative structuring to address the needs of both the property owner and the lender, with an expected completion date set for mid-2026.