GFCIB and Advisors, LLC, has once again successfully restructured a Hospitality Property in the Southern part of the Country. GFCIB exclusively represented the ownership in this financing restructuring workout.
“This was a small Hotel that had significantly differed maintenance, as well as the income, had dramatically declined in recent years causing a large negative cash flow which the ownership funded from their own resources until they did not have anything left. At that point, they engaged us and we started to work on it” said H. Jack Miller. We started by putting financial projections together and then started the process of speaking and working with all the stakeholders and concluded a successful commercial mortgage loan modification with the lenders
This deal was a little complicated as there was a first mortgage that was sold to a nonbank lender, a second SBA Mortgage, and the sellers held a third mortgage.
We spend a lot of time getting to know our clients, the projects and motivations everyone has, then we work with all stakeholders to get the best possible outcome.
We are very pleased that this had the best possible outcome for all involved.
For additional information contact:
H. Jack Miller
215-947-2974 ext 238
GFCIB and Advisors, LLC, a nationally recognized advisory firm focusing on commercial real estate owners, developers, builders and mid-sized businesses.