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A young and successful Texas-based small business owner approached AVANA Capital with what inevitably became an incredibly complex yet opportunistic financing opportunity in the Houston market.
Between 2011 and 2013, KBS Hotel Group took multiple loans from a variety of sources to complete construction and stabilize the property. With the deadlines looming, KBS Hotel group was seeking to refinance its original construction loan, consolidate personal debt and obtain cash out. They needed a lender with the vision to see the property’s future potential and act fast.
842 Enterprises needed a lender that not only believed in the family’s vision, but also understood the nuances of modular construction and its benefits.
AVANA Capital is funding a new hotel construction project in Marina, California that will add permanent and construction jobs to the local economy and provide more options for business and leisure travelers — while fulfilling part of the American dream.
Hotel construction loans can be extremely lucrative, but their profitability comes with substantial risk. These projects, which can take up to 24 months to complete, have many variables and moving parts. Lenders need to be meticulous in researching the project and involved in the process from start to finish.
AVANA Capital and Middletown Hotel Management (MHM) have brought to fruition an impressive hotel and event center that will be an anchor for the township and a Butler County tourism draw for years to come.