Fountainhead Commercial Capital Finances $6.7M Hotel Purchase Westminster
Westminster, CO – Fountainhead Commercial Capital recently announced it closed a hotel loan, financing the $6.7 million purchase of a 77-room Comfort Inn & Suites, located in Westminster, Colorado, just north of the Denver city limits. Purchaser Interstate 17, Inc. financed the acquisition with Fountainhead’s loan with plans to renovate the hotel into a Quality Inn and Suites. Located just off Interstate 25, the 40,000-sf hotel sits on two acres near many Denver attractions and shopping districts. It serves business and leisure travelers.
Fountainhead provided the $3,390,429 1st deed of trust, allowing the borrower to acquire this hotel with attractive, long-term fixed interest rate financing at approximately 50% loan-to-value. Fountainhead’s loan programs provide financing for the purchase of fixed assets, such as real estate, furniture and fixtures.
“We are so pleased to assist the Truong family with financing the latest addition to their hotel portfolio with a Fountainhead conventional loan,” said Chris Hurn, CEO of Fountainhead. “The hotel will be improved in the very near future and offer a new option to travelers in the Westminster area of Greater Denver.”
Photo courtesy of Fountainhead Commercial Capital