Winston Rowe and Associates, a national no advance fee commercial real estate financier has a core focus on assisting hospitality investors with Joint Venture acquisition and development financing throughout the United States.
This program is for existing and to-be-constructed hotels and resorts on a joint venture basis for property owners and real estate developers.
Winston Rowe & Associates is looking for a clearly defined exit strategy for hospitality development opportunities in the United States ranging from $10mm to $100mm in total costs are good candidates for their joint venture program.
The debt is usually non-recourse, at or near bank rates and is designed as a construction loan (interest only during construction with an interest reserve built in), then converts to a permanent loan upon completion of the hotel or resort.
Hotel Joint Venture Program Highlights:
They look for the sponsor(s) to have 10% of the total project cost into the deal in the form of hard assets (usually land) or cash.
There also needs to be some additional liquidity to backstop the project which is another 10% in cash.
A minority ownership position that is negotiated after due diligence is complete.
There may also be a senior debt piece, depending upon the amount of equity the fund wants to invest.
A past track record of success is essential for the sponsors along strong personal liquidity.
Major metropolitan areas are preferred.
When speed and experience are important and crucial to your hotel and resort investing success, a principal at Winston Rowe & Associates is always available to speak with prospective clients. They can be contacted at 248-246-2243 or visit them online at http://www.winstonrowe.com
They have hotel and resort joint venture development and acquisition financing solutions in the following states.
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming