- CSB Capital launches New Programs for Financing Hospitality Properties in need of Turnaround

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CSB Capital launches New Programs for Financing Hospitality Properties in need of Turnaround
Added: 09/03/2004 Type: Summary Viewed: 749 time(s) [ Not Rated Yet ]

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CSB Capital launches New Programs for Financing Hospitality Properties in need of Turnaround

September 3, 2004 -- CSB Capital today announced that it was making further inroads into the competitive Hospitality Financing market by providing specialized services for clients with Financial needs for Flagged Hospitality Properties in need of Financing for Renovation, Turnaround or Change of Flag and Repositioning.

CSB Capital will provide Financing Programs for First Mortgage Debt, Mezzanine, Equity and Hybrid Equity upto 90% LTV of Capitalized Structures for Hilton, Marriott and IHG Brand Properties located in Markets with High Barriers to entry. Large Boutique Hotels may be considered on a case by case basis.

"Obtaining Financing in today's market for Hotel properties is very difficult and more so for Properties than are in need of Renovation or necessitate a change of Flag to Turnaround" said Sukbir Benipal, Director of CSB Capital. "We understand the problems the client faces with a high debt load from previous financing and the need for additional capital for renovations and restabilization of the property"

CSB works with the client to find the best solution to provide the necessary financing in the form of Short to Medium Term First Mortgage Debt and Mezzanine with options for note buyouts and bridge pieces to provide quick closings.

CSB also provides First Mortgage Debt via Conduit Financing and Insurance Companies for 7 to 10 year Terms, amortized over 25 years for purposes of Acquisitions, Refinance and Equity Reductions for Hospitality Properties and Income Producing Commercial real Estate nationwide.

About CSB Capital
CSB Capital is a leading Commercial Real Estate Financing firm located in the historic Upper West Side district of Manhattan. CSB provides First Mortgage Debt, Mezzanine, Equity and FF&E Financing for the acquisition, construction, renovation, turnaround and repositioning of all Hospitality Assets and Income Producing CRE nationwide.

More information on CSB Capital can be found at http://www.csbcapital.com

Contact:
Sukbir Benipal
CSB Capital
Tel: (212) 579-8500 / (212) 579-8600
Fax: (212) 579-8700
sukbir.benipal@csbcapital.com

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