This was an SBA 7a purchase that was used for the acquisition of a Baymont Inn & Suites.  The challenge on this deal was making sure that the lender used a qualified hotel appraiser.  At HBC, we insist that our lenders use qualified hotel appraiser specialists on all of our deals.  This is very important as the appraisal can make or break a deal.  The appraisal should always be done by an appraiser who appraises hotels exclusively, otherwise, the appraisal itself can be done poorly.  An appraisal that is done poorly can often cause problems. For example, the property may under-appraise or the bank may take issue with the appraisers approach and require a new appraisal to be done by a new appraiser.  In this case, we were able to convince the bank to use a hotel appraisal specialist.  The deal appraised properly and we were able to close the deal.

Client Comments:

 

“We had a very great experience working with Shawn. His patience and expert knowledge helped us throughout the loan process greatly and was the key reason we were able to close our deal. He provided tremendous value and we learned a lot from him. Thank you again Shawn for your help and we look forward to working with you again in the future.”

GK Gaurang — Franchise Hotel Owner