GRP Capital is pleased to announce that Ryan Dumas, Senior Associate in the Fort Myers based firm, originated an acquisition loan for the Quality Inn & Suites in Lexington, SC. Keren Alpert provided closing services for the transaction.
GRP Capital secured a fully amortized, 25-year loan for the borrower. The loan closed with additional working capital to float startup operations. The borrower came to Ryan Dumas, as recommended by the seller’s nephew, who had previously partnered with Ryan on a past transaction.
In discussing this deal, Ryan Dumas said, “I loved working with these clients. They and the seller displayed great motivation. We all worked together to close this loan as quickly as possible. This market is showing lots of potential growth. The clients were ready to capitalize on this potential, just in time for the holiday travel season. We were very pleased to get the loan closed in December, as this was really important to all of the parties.”
Real estate transactions often look simpler than they actually are. At GRP Capital, we offer a level of service to tidy discrepancies created over time. In this case, some last-minute title issues threatened to delay closing. These title issues, if not resolved, would have exposed the buyers to additional risk. By working diligently with the title company, the lender, and various attorneys, GRP successfully closed the purchase on time and within budget.