GRP Capital is pleased to announce that Shail Madhav, a Texas-based Associate, closed an acquisition loan for an EconoLodge in Lubbock, Texas. Keren Alpert provided closing services for the transaction.
GRP Capital secured a fully amortized, 25-year permanent loan for the borrower. The loan closed with additional working capital to float startup operations.
Madhav noted, “My clients came to me, ready to purchase this hotel. To be clear, this property was already healthy. But with active on-site hotel management by my clients, the trajectory is only upwards! Sometimes a property needs really active hotel management and oversight. I was happy to work with the clients to facilitate their plan to increase occupancy. In the end, we matched our client with a lender who shared their vision.”
The GRP Capital Originations Team has years of experience in the hospitality industry. We are able to offer price guidance along with PIP budgeting, projection review, and analytical study. These complimentary services not only benefit the borrower in making a decision but also help to educate the lenders about our clients, their plans and goals.