Category Archives: Commercial

Florida hotel financing showing random pier

Gulf Coast Hotel Purchased

Our clients are the new owners of a Gulf Coast hotel.

Our GRP Capital Team had been working with this family of business owners for a while. They came to us back in 2024, wanting to refinance their Florida hotel. This refinance had an immediate impact on their cash flow and allowed them to subordinate their SBA EIDL loan.

Now, they had been setting aside some, but not a lot of capital and were ready to expand their portfolio. Our team worked closely with them through the entire process. Ultimately, they are owners of a Florida hotel and were able to purchase the hotel with minimal money down. They are taking possession during the secondary summer season. We are confident that they will be well-prepared once the high season comes around.

Rick Patel, GRP Capital President, reflected on this loan and GRP Capital’s deep roots in the Florida hospitality marketplace.

“We had successfully matched this client with an appropriate lender before, in order to refinance their hotel. The same lender ended up offering favorable terms, and because they know us and the clients, the underwriting process was relatively smooth. It’s nice to work with clients who have clear business goals. Their success is our success, too.”

At GRP Capital, we know Florida hotel financing. In fact, we specialize in helping businesses thrive in the dynamic Florida hospitality market. While we are a national company with a track record of closing loans across the United States, our expertise in Florida’s hospitality sector sets us apart. We understand the unique nuances of this diverse market and are proud to support entrepreneurs pursuing success in Florida’s hospitality industry.

Florida Hotel Loan Basics:

• Florida is many markets. Florida is a large, populous state. As a result, the Florida hotel financing marketplace is varied. Some lenders prefer coastal properties, while others focus on inland or independent businesses. Understanding these preferences is crucial for securing financing.

• Insurance Requires Planning  The insurance landscape in Florida can be challenging. Many lenders require wind coverage, which can be costly. Collaborate with a trusted insurance agent. Obtain accurate quotes and ensure that your business plan accounts for all insurance costs.

• Seasonality Matters:  Florida properties often experience pronounced high and low seasons. Some hotels rely on large group events during slower periods. Research your property’s market drivers, such as major clients or recurrent events to develop a realistic revenue strategy.

Our GRP Capital team specializes in finding tailored financing solutions for every project.

Whether you’re purchasing, refinancing, or building from the ground up, our extensive network of lenders ensures you’ll find funding that aligns with your goals and cash flow needs.

Here’s how we add value:

  • We save you time by researching and identifying the best funding options for your unique project.
  • Our expertise spans various loan products—including SBA loans, bridge loans, and conventional financing—so you can navigate complex transactions confidently.
  • We provide guidance not only on lending but also on operational and strategic decisions that impact your business success.

If you’re considering becoming a first-time or repeat hotel owner in Florida or beyond, let’s discuss how we can help you achieve your business goals.

Large Balance Sheet Refinance Closes for Coral Springs Multifamily

Our clients, a seasoned ownership group, needed to refinance a 400 unit multifamily community in Coral Springs, Florida. The property was performing, the business plan was working, and the existing debt was coming due. What they needed was a lender who could underwrite a transaction of real size in one of the most competitive rental markets in the country.

Large multifamily refinances live in a different part of the lending market than the deals that fill much of the industry. As the loan amount climbs, the pool of willing lenders narrows, the underwriting grows more demanding, and the diligence calendar runs longer. Our clients depended on GRP Capital to find the right lending partner and to tell the story of a well run property with a proven ownership group behind it.

The property made the case. At roughly 94 percent occupancy across a mix of one, two and three bedroom units, the community had steady in place cash flow. Ownership had also been working through a unit renovation program, upgrading interiors in phases and moving those units to a higher rent tier as they turned. That is the kind of disciplined value add story lenders want to see, because it shows an operator who can execute without stretching the balance sheet.

Rather than an agency execution, this refinance was best served by a balance sheet loan. Balance sheet financing delivered the proceeds, the structure and the certainty of close the borrowers needed, without the constraints that come with other programs. The result was a $52.0 million loan that closed in August 2026, the largest single closing in GRP Capital’s history.

Rick Patel, GRP Capital President, commented, “This $52.0 million refinance is the largest loan our team has closed, and it showcased our GRP Capital team’s ability to handle and close a transaction of institutional size. Large loans require a different level of underwriting, coordination and patience. Our team worked closely with the borrowers, the lender and the third party professionals to bring every piece together and close on schedule.”

Veeraj Patel, Vice President of Commercial Loans, who led the placement, added, “Our clients run this property extremely well, and my job was to make sure the lender saw that clearly. We built a package around the occupancy, the rent roll and the renovation program so there were no surprises once the file reached underwriting. A balance sheet execution gave the borrowers the proceeds and the certainty of close they were after. This is exactly the kind of multifamily transaction our team is built to underwrite.”

Refinancing a large multifamily property is not simply a bigger version of refinancing a small one. The lender pool is different, the diligence runs deeper, and the coordination among borrower, lender and professionals has to be tight. Here is what seasoned operators keep in mind when they step up in size.

Refinancing a Large Multifamily Property:

• Start the conversation early: Large refinances take longer than small ones. Appraisals, environmental reports, property condition assessments and title work all take time, and credit committees move on their own calendar. Give yourself six months ahead of a maturity, not six weeks.

• Keep your rent roll and your financials clean: Lenders will pull your rent roll, your trailing twelve month statements and your unit statistics, and they will expect those numbers to agree with one another. Reconciled records shorten underwriting more than almost anything else you control.

• Document your renovation program: If you are upgrading units and pushing rents, show the work: the scope, the cost per unit, the premium achieved and how many units are complete. A documented value add story is an asset in underwriting. An undocumented one is a question mark.

• Protect your occupancy through the process: Lenders want to see a healthy, stable occupancy rate at closing, not only at application. A dip during diligence invites a second look at your proceeds.

• Know which lenders are actually in the market: Not every bank has appetite for large multifamily exposure, and appetite shifts quarter to quarter. Knowing who is lending at your size, in your market, right now is what protects your closing timeline.

Why Choose GRP Capital?

Our GRP Capital team specializes in crafting financing solutions tailored to each client’s unique goals. We even have experience with lender dropouts and critically timed funding needs.

Whether you’re purchasing, refinancing, or building from the ground up, our extensive network of lenders ensures you’ll find funding that aligns with your goals and cash flow needs.

Here’s what sets us apart:

  • We save you time by researching and identifying the best funding options for your project.
  • Our expertise spans various loan products—including non-recourse loans, SBA loans, bridge loans, and conventional financing—so you can navigate even the most complex transactions confidently.
  • Beyond lending, we provide strategic guidance on operational decisions that drive long-term business success.
Florida hotel financing showing random pier

Florida Hotel Financing

At GRP Capital, we know Florida hotel financing. In fact, we specialize in helping businesses thrive in the dynamic Florida hospitality market. While we are a national company with a track record of closing loans across the United States, our expertise in Florida’s hospitality sector sets us apart. We understand the unique nuances of this diverse market and are proud to support entrepreneurs pursuing success in Florida’s hospitality industry.

Recently, our client came to us, needing to refinance his independent hotel loan. His property was in the economy tier and the location was not in one of the highest density tourist areas. These Florida hospitality financing projects can be challenging to match up with lenders. But our team worked hard to place and close the loan.

Rick Patel, GRP Capital President, reflected on this loan and GRP Capital’s deep roots in the Florida hospitality marketplace.

“Our team has closed hundreds of Florida hospitality loans, making us a leader in the Florida hotel financing industry. Lenders acknowledge our expertise and turn to us, especially when financing atypical properties. This particular client wanted to move away from a seller note, as he wanted a traditional banking relationship. This is not unusual: seller notes and non-traditional lenders have their use. However, many clients want to migrate from a personal relationship with a lender. This property, although profitable, was independent and off the beaten path. We pursued financing with a lender who knew our team well and was willing to take on a slightly riskier loan.”

Florida Hotel Loan Basics:

• Florida is many markets. Florida is a large, populous state. As a result, the Florida hotel financing marketplace is varied. Some lenders prefer coastal properties, while others focus on inland or independent businesses. Understanding these preferences is crucial for securing financing.

• Insurance Requires Planning  The insurance landscape in Florida can be challenging. Many lenders require wind coverage, which can be costly. Collaborate with a trusted insurance agent. Obtain accurate quotes and ensure that your business plan accounts for all insurance costs.

• Seasonality Matters:  Florida properties often experience pronounced high and low seasons. Some hotels rely on large group events during slower periods. Research your property’s market drivers, such as major clients or recurrent events to develop a realistic revenue strategy.

Our GRP Capital team specializes in finding tailored financing solutions for every project.

Whether you’re purchasing, refinancing, or building from the ground up, our extensive network of lenders ensures you’ll find funding that aligns with your goals and cash flow needs.

Here’s how we add value:

  • We save you time by researching and identifying the best funding options for your unique project.
  • Our expertise spans various loan products—including SBA loans, bridge loans, and conventional financing—so you can navigate complex transactions confidently.
  • We provide guidance not only on lending but also on operational and strategic decisions that impact your business success.

If you’re considering becoming a first-time or repeat hotel owner in Florida or beyond, let’s discuss how we can help you achieve your business goals.

State Flag of Florida; we specialize in Florida hospitality

Capitalizing on Florida Hospitality with GRP Capital

At GRP Capital, we specialize in helping businesses thrive in the dynamic Florida hospitality market. While we are a national company with a track record of closing loans across the United States, our expertise in Florida’s hospitality sector sets us apart. We understand the unique nuances of this diverse market and are proud to support entrepreneurs pursuing success in Florida’s booming hospitality industry.

Recently, we had the privilege of assisting a client who was ready to make his mark in the Florida hospitality scene. With prior experience managing multi-family residential properties up north, he sought to transition into hotel ownership in Florida. His goal? To combine his operational expertise with his love for the Sunshine State.

Krishan Patel, GRP Capital Managing Director, reflected on the partnership:

“We love working with clients who bring strong skills from other industries and are eager to apply them to new ventures. This client was organized, well-capitalized, and determined. He had done his homework and was ready to embrace the challenges of entering a new business.”

The GRP Capital team guided him through the complexities of securing a hospitality loan. These included connecting him with a lender and a network of other professionals like surveyors and title officers was also helpful. Today he is successfully managing his independent East Coast hotel, just in time to profit from Florida’s high season.

Florida Hospitality Basics:

• Florida is many markets. Florida is a large, populous state. As a result, the marketplace is varied. Some lenders prefer coastal properties, while others focus on inland or independent businesses. Understanding these preferences is crucial for securing financing.

• Insurance Requires Planning  The insurance landscape in Florida can be challenging. Many lenders require wind coverage, which can be costly. Collaborate with a trusted insurance agent. Obtain accurate quotes and ensure that your business plan accounts for all insurance costs.

• Seasonality Matters:  Florida properties often experience pronounced high and low seasons. Some hotels rely on large group events during slower periods. Research your property’s market drivers, such as major clients or recurrent events to develop a realistic revenue strategy.

Our GRP Capital team specializes in finding tailored financing solutions for every project.

Whether you’re purchasing, refinancing, or building from the ground up, our extensive network of lenders ensures you’ll find funding that aligns with your goals and cash flow needs.

Here’s how we add value:

  • We save you time by researching and identifying the best funding options for your unique project.
  • Our expertise spans various loan products—including SBA loans, bridge loans, and conventional financing—so you can navigate complex transactions confidently.
  • We provide guidance not only on lending but also on operational and strategic decisions that impact your business success.

If you’re considering becoming a first-time or repeat hotel owner in Florida or beyond, let’s discuss how we can help you achieve your business goals.

Collateral and a Central Florida Refinance

Collateral is an important part of many business loans. Your collateral “secures” your loan. It is the tangible “thing” that the bank knows has value.

Our Central Florida client was ready to refinance. Their business has been successful, with over a decade of stabilized income. The new loan was structured to free up capital for other business projects.

However, our client’s property, a waterfront hotel, consisted of multiple parcels. The hotel did not operate on every parcel, but they leased out other parcels, including a nearby boat dock. Even more significantly, their revenues included these lease payments.

Many lenders insist on including every single parcel in their loan, especially when those parcels are a revenue source. But including every single parcel in this collateral was not ideal. First of all, it would be complicated. Additional parcels mean additional title and survey work. And each parcel has to be appraised.

GRP Capital was able to work with our lender. We demonstrated that the hotel parcel alone had high value, enough to collateralize the loan. Working with our lender and building on the trust we had developed with them was crucial. It kept the loan as simple as possible and preserved our client’s collateral, too.

Collateral Basics:

• Your collateral will be appraised. An appraiser will determine the value of your collateral. This value has to meet or exceed the value of the loan.

• Collateral Shortfalls  Sometimes collateral values come up short. This happens. When it does, there are a few options. If this is an acquisition, the buyer may be able to renegotiate a discount on the sale price. Alternatively, borrowers can offer other assets as temporary collateral, while the loan is being paid down. Finally, some clients take out a small life insurance policy to obtain extra collateral.

• Consult experts before signing a PSA:  A PSA (Purchase Sale Agreement) makes assumptions about collateral. In addition, a PSA often requires “hard money”, a non-refundable amount. Therefore, if you can, contact GRP Capital prior to signing a PSA. We can save you money, especially if we believe the price is not going to be appraised to fully collateralize.

Our GRP Capital team specializes in finding the right lender for each project. We save our clients time and money, as we research the best choices for their funding sources. Our experience allows our clients to find funding that is project-appropriate and will allow for sufficient cash flow. Whether you are looking to refinance or purchase or engage in construction, we would love to discuss your business plans with you. If you are considering becoming a first-time (or second or third time!) buyer, we can assist you.

Refinance for cash out

Cash Out with a Refinance

Our client needed to pull cash out to upgrade their hospitality property but could not refinance due to the structure of their debt.

The amount they needed for their cash out was smaller than our typical loans. However, this was a repeat client who had approached us, seeking our counsel. Our management team looked carefully at all of their businesses and discovered a possibility. They owned an office building which was eligible for refinancing. There was even sufficient equity to pull out cash during the refinance.

Our client was pleased to close the loan and begin their upgrade.

GRP Capital is celebrating its tenth anniversary in 2024. This longevity has allowed to us to deepen our list of repeat customers. This benefits everybody.

Repeat Client Benefits:

• We know you! Our repeat clients are already “in the system”. We have their pertinent information, we understand the structures of their businesses, we even know who their team of professionals are. The “getting to know you” phase is already taken care of. We know what aspects of this process are easiest for you and your team and which present challenges at times. We are prepared for potential bumps in the road. Particularly with refinances and those with cash out components, this is critical.

• You Know Us!  Repeat clients know the “GRP Capital way”. You know how we match you with a lender, how we internally underwrite your file and how we process loans. There are no surprises as you already know how we communicate and the roles we have from business associates to credit analysis, from management to loan processing.

• We know your people:  If we have closed loans for you in the past, we may already have dealt with your attorney or your accountant. We already have emails for your insurance agent, your title agent and your franchise representative. Knowing how all of these professionals handle their business allows for seamless operations.

Our GRP Capital team specializes in finding the right lender for each project. We save our clients time and money, as we research the best choices for their funding sources. Our experience allows our clients to find funding that is project-appropriate and will allow for sufficient cash flow. Whether you are looking to refinance or purchase or engage in construction, we would love to discuss your business plans with you. If you are considering becoming a first-time (or second or third time!) buyer, we can assist you.

Cash out for refinance

Clients Buy South Carolina Hotel, Reflag as a Marriott Property

Ryan Dumas‘ clients came to him with a complex loan. First of all, they wanted to purchase a South Carolina hotel. But the seller would not be transferring the franchise to the buyers. Instead, he was taking his franchise flag to a new property that he was purchasing. Thus our buyers would need to reflag immediately upon taking possession.

One more thing: the equity injection money would be coming from the proceeds of a business sale, what is called a 1031 exchange. A 1031 exchange, also known as a like-kind exchange, is a real estate investing tool. It allows investors to swap out one investment property for another, deferring certain capital gains taxes.  Need more information on 1031 exchanges?

Our entire team worked closely with our client and the many moving parts of this loan. Ryan noted, “The buying partners know the local market well. The hotel they were looking at is well-located and poised to continue to be profitable. But having to reflag immediately added another layer of complication. The clients had to negotiate with Marriott, which has a very demanding vetting process of their franchisees. Ultimately, this property will function well as a Marriott property. Marriott has good brand awareness and loyal customers.”

Your To-Do List if Considering a Hotel Reflag:

• Work with your franchise representative. Go over the multiple aspects of the reflagging procedure with your franchise representative. Make sure you know the timeline, the expenses and the required PIP (property improvement plan). Determine what training the franchise will provide. Obtain details of the marketing support and front desk registration systems.

• Understand the multiple steps to reflag. Franchises have to approve your application. Only then can they begin to draft the franchise agreement. The franchises also publish a franchise disclosure document (FDD) which is updated every year. During the updating time, there is a blackout period. The blackout period can interfere with your closing timeline.

• Obtain detailed timelines of receiving the executed franchise agreement. Find out the exact date you can receive the draft of the franchise agreement. Then inquire as to when it can be executed. Some franchises hold an agreement in escrow and only release it upon the execution of the deed and/or warranty.

• Does your attorney need to get involved?:  Work with your attorney, if necessary, to review the franchise documents. There are also attorneys whom we can recommend, who specialize in negotiating with franchises.

Our GRP Capital team specializes in finding the right lender for each project. We save our clients time and money, as we research the best choices for their funding sources. Our experience allows our clients to find funding that is project-appropriate and will allow for sufficient cash flow. Whether you are looking to refinance or purchase or engage in construction, we would love to discuss your business plans with you. If you are considering becoming a first-time (or second or third time!) buyer, we can assist you.

Cash out for refinance

1031 Exchange for New Florida Hotel Owner

Our Florida client came to us with a 1031 exchange.

The client was getting ready to sell a Georgia property. They were using the proceeds to purchase a new hotel in central Florida. To minimize their tax exposure, they were utilizing a 1031 exchange.

A 1031 exchange, also known as a like-kind exchange, is a real estate investing tool. It allows investors to swap out one investment property for another, deferring certain capital gains taxes. 

Our entire team worked closely with our client, always mindful of the 1031 exchange deadline.  He is now the proud owner of his hotel. He is very skilled at increasing profitability and is ready to take on the challenges of his new property. Our client was appreciative of the availability of the entire GRP Capital team, even exclaiming, “You always are there for me. I appreciate what you are doing.”

Tips for Handling a 1031 Exchange Deadline:

• Secure specialized help. Be sure your attorney has experience with 1031 purchases and sales. In addition, be careful when choosing a title company for the sale of your property. Be sure they have the ability to hold the proceeds in escrow as you wait for the purchase to go through.

• Know your deadline. Many business owners have their eye on purchasing a new property. Sometimes, they plan to sell another asset for their equity injection. That is a great plan. However, make sure the loan is feasible, and that a lender can close the loan to meet your 1031 exchange deadline. The SBA (Small Business Administration) is still a great resource for hotel loans, but be aware that SBA loans take a bit longer to close, especially 504 loans.

• Get all of your own financial documents ready:  Lenders will require taxes to be filed (or extensions), as well as financials that are less than 90 days old. Work with your accountant and other professionals and let them know your 1031 exchange deadline.

• Make it legal:  Work with your attorney so that your borrowing entity has an operating agreement or bylaws, is registered in the correct state and can be licensed correctly. 

Our GRP Capital team specializes in finding the right lender for each project. We save our clients time and money, as we research the best choices for their funding sources. Our experience allows our clients to find funding that is project-appropriate and will allow for sufficient cash flow. Whether you are looking to refinance or purchase or engage in construction, we would love to discuss your business plans with you. If you are considering becoming a first-time (or second or third time!) buyer, we can assist you.

Florida Gas Station Loan Closes

Senior Associate Ryan Dumas is pleased to announce the closing of a loan for a gas station in central Florida. The loan funded at 86% LTV (loan to value), including inventory costs. These were very favorable terms, and we are proud of this high leverage loan. In addition, the interest rates were extremely competitive.

This loan closed, despite two hurricanes coming through the area. Fortunately, neither one materially affected the gas station.

Ryan had this to say about the deal, “We had a great team collaborating on this deal. My client was working with an experienced gas station broker and also a very responsive attorney. We were able to quickly get the documents needed from the sellers and the buyer. Therefore, our lender was motivated, too. As a result, the lender quickly approved and scheduled the closing. I hope we can work with lots of these guys again, as they are bright, experienced business people.”

How to Set Yourself Up for a Quick Closing

• Organized Documents: Sellers and buyers need to have their vital documents in tip-top shape. If you think a business loan is coming down the pike, gather your materials. Create your own personal financial statement. Organize documents about businesses you own, like tax returns and financials. Contact your accountant and get up-to-date financials on all your businesses, even if it is not your practice to receive monthly financials.

•Engage Professionals: Consult with an attorney and your accountant before making business decisions. Call our GRP Capital Team before you even sign a PSA. Ask your advisers, “Can I afford this? What is a reasonable price? Do you think the timing is good now?”

• Get insurance in place now: The commercial property insurance marketplace is very volatile right now. Start the process of finding insurance immediately and figure out if you can afford the costs. As soon as you can, obtain insurance certificates. Insurance issues are one of the prime reasons for delayed closing. Waiting to purchase insurance until the last minute usually backfires.

•Be Flexible: If a quick closing is a priority, be ready to pivot. If an appraisal comes in short, buyers and sellers may have to renegotiate. Sometimes we have to tweak the structure of the loan, especially for SBA approval.

Our GRP Capital team specializes in finding the right lender for each project. We save our clients time and money, as we research the best choices for their funding sources. Our experience allows our clients to find funding that is project-appropriate and will allow for sufficient cash flow. Whether you are looking to refinance, purchase or engage in construction, we would love to discuss your business plans with you. If you are considering becoming a first-time (or second or third time!) buyer, we can assist you.

New Mexico Native American art

New Mexico Hotel Refi Offers Low Rates

GRP Capital New Mexico hotel owners secured financing that offered market-best low rates.

Ryan Dumas and the GRP Capital team worked very diligently with this client group. The partners really had one overarching goal: securing lower rates. Their current note had a high interest rate. Therefore, their new loan needed to show significant savings. An SBA 504 loan was the best choice for them. It offered stable, low rates. More importantly, the SBA guarantee made the loan more attractive to lenders.

Senior Associate Ryan Dumas reflected on the path to get the loan closed. “Our clients are experienced in this marketplace. However, New Mexico is a smaller market. We needed the SBA to help support this loan in order to entice a lender. I was thrilled that this new loan is a full 3 points lower than the clients’ previous mortgage. They will be saving serious money, which they can use personally or professionally. They will continue to be a significant employer and business in their small town.”

Using an SBA 504 to Access Low Rates

  • GRP Capital has connections with multiple CDC’s across the nation and the lenders who are interested in 504 loans.
  • The 504 program requires utilizing a Certified Development Company (CDC). The CDC is SBA’s community-based nonprofit partners who promote economic development within their communities. CDCs are certified and regulated by SBA.
  • The SBA 504 structure guarantees loans, so that lenders face lower risks.
  • We are very careful to ensure sufficient SBA eligibility prior to choosing a loan vehicle. If you have any questions about what this means, please contact us.
  • In many marketplaces, the SBA guaranteed loans are competitive with conventional loans.
  • SBA loans may often be the best bet for achieving lower interest rates.

Contact Ryan if you are considering SBA funding, 504 Loans, Green Loans or any other loan products.

Our GRP Capital team specializes in finding the right lender for each project. We save our clients time and money, as we research the best choices for their funding sources. Our experience allows our clients to find funding that is project-appropriate and will allow for sufficient cash flow. Whether you are looking to refinance, purchase or engage in construction, we would love to discuss your business plans with you. If you are considering becoming a first-time (or second or third time!) buyer, we can assist you.