GRP Closes Another Hotel Loan, This One in New Mexico!

GRP Closes Another Hotel Loan, This One in New Mexico!
by Keren Alpert

GRP Capital is pleased to announce that Ryan Dumas, Senior Associate at the Fort Myers based firm, originated a lease-to-purchase loan for an ABVI in the Rio Grande Valley of North Mexico. Director of Operations, Krishan R. Patel, and Processor, Keren Alpert, provided closing services for the transaction.

The GRP Capital team secured a fully amortized, 25-year loan for the borrower with minimal equity into the transaction.  The borrower came to Ryan Dumas through a local relationship.

Dumas noted, “I was pleased to enter this new territory with such an accomplished group of entrepreneurs. Both the buyers and sellers are organized, efficient and great communicators. This hotel is extremely popular during the yearly bird migration. The property will benefit greatly from the onsite management that the buyers will be able to provide.

The folks at GRP Capital are particularly proud that this loan went from letter of intent to closing in 45 days. GRP was able to handle the complexities and organize all parties to close efficiently. We coordinated our efforts with a motivated managing partner. As a result, we were able to obtain the appropriate documents from the appropriate parties. Thus, we could schedule a closing date just in time for the holidays. A quick closing before the end of the calendar year was critical to all of the parties involved. We were happy to deliver.