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CASE STUDY: Holiday Inn Express

Hotel Construction Loan at Miami

Property Type: Hospitality

City & State: Texas (Tertiary Market)

Loan Amount: $6.3M

Resolution: COVID Relief

  1. Extend Excess Reserve Requirements

  2. PPP Consent

  3. FF&E Wavier

  4. Late Fee Waiver (2 months)

  5. Release of PIP reserves ($288K)

  6. Cash Management trigger was waived.

Master Servicer: Midland

Special Servicer: Rialto  

Date completed: June 15, 2020


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