| Home | July 2012News | Terrace Capital, Inc. - Non-Recourse Senior Debt Financing- $13.7MM - Sheraton Hotel & Resorts - Augusta, GA. |
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 Terrace Capital, Inc. - Non-Recourse Senior Debt Financing- $13.7MM - Sheraton Hotel & Resorts - Augusta, GA.- Terrace Capital, Inc. - Non-Recourse Senior Debt Financing- $13.7MM - Sheraton Hotel & Resorts - Augusta, GA.
- July 19, 2012
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Terrace Capital announced today that it has secured $13.7MM in non-recourse financing for a 152-room, Class A, full-service Sheraton hotel in Augusta, Georgia.
The Sheraton Augusta, named the Sheraton of the Year for 2012, is situated on a 6.94-acre site located at 1069 Stevens Creek Road in Augusta with amenities that include indoor/ outdoor heated pools, fitness facility, business center, meeting rooms, restaurant and a club lounge. The property was constructed by Palmetto Hospitality and opened for guests in December 2009.
The proceeds of this $13.7MM, 69% loan-to-value CMBS loan were used by the borrower, Palmetto Hospitality, LLC, for the refi...
- View more at: http://www.1888pressrelease.com/terrace-capital-inc-non-recourse-senior-debt-financing-pr-410911.html
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