The new Ground-Up Construction Lending Program provides loans up to $50M for franchised hotel projects
Our new Ground-Up Construction Lending Program represents a significant step forward in our commitment to supporting the hotel industry.— Shivan Perera, Managing Director for Bridge
CHARLOTTE, NC, UNITED STATES, September 16, 2024 /
EINPresswire.com/ --
Bridge, a digital platform that connects middle-market developers with a diverse network of debt capital providers, has launched its Ground-Up Construction Lending Program, an in-house lending program designed to support construction and rehab projects for franchised hotels. This innovative program will cater to experienced sponsors in primary and secondary markets, offering loan amounts of up to $50 million.
The move into direct lending addresses the evolving needs of the hospitality sector, providing senior debt for ground-up and rehab projects. Notably, the program targets a market segment that is currently underserved and underfinanced, particularly in high-growth markets where demand for quality hotel accommodation exceeds supply. This gap presents a unique opportunity for sponsors to capitalize on untapped potential in both well-established and emerging markets.
“Our new Ground-Up Construction Lending Program represents a significant step forward in our commitment to supporting the hotel industry,” said Shivan Perera, Managing Director for Bridge “We recognize that many segments within the hospitality sector are facing financial constraints and a shortage of development capital. By focusing on franchised hotel projects, we aim to bridge this gap and provide experienced sponsors with sound projects the capital they need to meet demand and succeed in both competitive and underserved markets.”
● Key features of the Ground-Up Construction Lending Program include:
● Loan amounts up to $50 million: Providing substantial financial support for mid-scale hotel development projects with competitive rates.
● Digital platform to revolutionize the speed to close: Bridge has custom built technology to improve the developer experience by leveraging AI for screening and underwriting transactions.
● Customized for franchised hotels: Focusing on properties associated with established brands to ensure quality and marketability.
● Availability in primary and secondary markets: Catering to a broad range of locations, from major metropolitan areas to high-potential secondary markets.
● Experienced sponsors: Designed for sponsors with a proven track record in hotel development and operations to maximize project success.
● A solution for market gaps: Specifically targeting markets that are currently undersupplied and underfinanced, offering new opportunities for growth.
Bridge's deep industry expertise and customized lending solutions make it an ideal partner for sponsors dealing with the complexities of hotel construction lending. This new program highlights Bridge's commitment to driving growth and innovation within the hospitality sector, especially in markets with significant potential. For more information about Bridge’s Ground-Up Construction Lending Program and how it can support your next hotel development project, please visit bridgemarketplace.com/hotels.
Jamie Killin
10 to 1 PR
jamie@10to1pr.com
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