I'm looking for any Lenders that can do financing on a Hotel property in out of receivership.
Details: 5 million in non recourse financing for a 65 room Boutique Hotel in the city of Biwabik, MN.
This is a very small town in Northern Minnesota, near Virginia, MN (the address is in fact Biwabik though).
My name is Alan Malicse and I am the point of contact for the buyers of this property
for more information please contact me at 510-685-0459
Thank you for your time!
Wanted to reach out. I can bring bridge lenders to the table for this transaction, but there are questions.
Why is someone wanting to buy this property? There are less than 1000 people in the town. How can this property command $5MM+?
That location is going to be a major issue for pretty much any lender. And looking for non-recourse lending on top of it is even going to be another wrench.
I'm not here to dispute; I'm just wondering about the realism of this transaction. If you have buyers 5MM+ strong, unless there some unforeseen personal ties to this property or they are the actual owners who had it taken out of their hands, why would they not be directed towards better or more solid investments??
Just my .02...If you want me to take a look, send a summary or snyopsis.
209 481 0514
Thanks for getting back to me and thank you for your questions. Let me forward your information over in order to give you more details.
Jared are you considered a Direct Lender or Broker?
I work for Global Solutions, and we are a broker. I did want to disclose that. I should have mentioned that in the original posting.
I appreciate your time but given the uniqueness and scenario of the property we were looking more towards a direct Non Recourse Lender. If you have any you could recommend that would be great!
Again - I appreciate your time!
I understand, but also given the situation, I'm not going to just disclose lenders for nothing and again, I don't know if there is an actual deal considering the caveats that have already been addressed by my questions. Being we are in the same arena, I sure you can appreciate that, as I'm sure Cordero doesn't just give out information either.
Thanks. Door is always open.
I totally understand Jared. It is a bit of complicated situation and at the moment we haven't been able to find a lender willing accommodate those caveats. I appreciate you reaching out and hopefully we'll find that lender soon
Thank you sir!
Please contact me via email firstname.lastname@example.org or 510-685-0459
Marie thanks for your reply
are you considered a Direct Hard Money Lender or Brokerage?