Suraj Desai's LackBearCapitalPartners Refinances 76-Key Holiday Inn & Suites In Banning, CA For $7.7M

Suraj Desai of BlackBear Capital Partners facilitated the refinance of a 76-key Holiday Inn & Suites located at 3020 W. Ramsey Street in Banning, CA. The property, consisting of 76 hotel rooms, was refinanced for a loan amount of $7,700,000. The loan was obtained on a 10-year term at a fixed interest rate of 3.73%.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $7,700,000
• Address: 3020 W. Ramsey Street, Banning, CA
• Market: Banning, CA
• Keys: 76

The successful refinancing of the Holiday Inn & Suites was facilitated by Suraj Desai of BlackBear Capital Partners. The 10-year term loan at a fixed interest rate of 3.73% provides a favorable financial arrangement for the property owner, enhancing the overall stability and profitability of the asset.