New Buyer Takes Ownership of Hotel in Utah

New Buyer Takes Ownership of Hotel in Utah
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 economy chain hotel in Utah.

The GRP Capital team secured a fully amortized, 25-year permanent loan for the borrower. The lender credited the borrower for past lease payments minimizing the need for additional outside equity.

Dumas noted, “My client has been very carefully saving in order to purchase his first hotel. He was already managing the property with an eye to increasing profitability while holding down expenses. As a result, the lender recognized his hard work and his potential. I am pleased for my client. He really wanted to become a hotel owner and take his place in the hospitality ownership community. He is a budding entrepreneur, and I’m sure this is just the beginning of his personal and business growth.

Our GRP Capital team specializes in finding the right lender for each project. We save our clients time and money, as we source 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. If you are considering becoming a first-time (or second or third time!) buyer, please contact us, so we can assist you.