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****** CLICK HERE FOR IMPORTANT NOTICE REGARDING SOMEONE FRAUDULENTLY USING OUR NAME AND LOGOS ******* |
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September 8, 1998 Celtic Financial Group LLC ("CFG") Closes $1.5 Million Loan for Limited Service Hotel Judd A. Volk, President of Celtic Financial Group LLC ("CFG"), today announced the closing of a $1,500,000 loan on a 47-room limited service hotel in northern California. The fixed-rate, non-recourse financing was structured with a 20-year fully amortized term, 77% LTV, 1.40 minimum DSCR and a spread of 215 basis points over the interpolated 20-year Treasury, which resulted in an interest rate of 7.28%. The hotel, which was built in 1993, currently operates at an occupancy rate of approximately 57% with an average daily rate of $46. Headquartered in Great Neck, New York, CFG is a real estate finance firm specializing in fixed-rate, non-recourse commercial and multifamily mortgages nationwide. CFG has three financing programs that enable a wide variety of properties to be financed. CFG has a Standard Program that covers all asset types, for loans beginning at $1,000,000 with no maximum. Eligible property types to be financed through the Standard Program include multifamily, office, retail, hotel, industrial, self-storage, manufactured housing and single tenant properties with credit-rated tenants. In addition, the Small Multifamily Loan Program provides mortgages for multifamily properties ranging in size from $250,000 to $3,000,000, and the Small Commercial Loan Program finances retail, office and industrial properties with loan amounts between $250,000 and $2,000,000.
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Judd A. Volk, President All transactions where we act as a commercial mortgage broker will be handled under the letterhead of GCP Capital Group LLC Send mail to
deals@celticfinancial.com with
questions or comments about this website. |
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