Tuesday, June 3, 2014

Lone Oak Fund Provides Financing for Three Hotel Properties in California


Alexa Mizrahi
LOS ANGELES, CA – Lone Oak Fund, LLC, a private lender specializing in short term loans on commercial and residential properties, has provided financing for the acquisition and refinance of three separate hotels totaling 140 rooms in California.

“Private money lending activity is beginning to soar in the hospitality industry,” says Alexa Mizrahi of Lone Oak Fund.  “Hotel owners and investors are seeking alternative finance solutions that can deliver the flexibility and speed they need to acquire and reposition hotel properties.”

Lone Oak, a mortgage fund with more than 700 high net worth members, notes that these solutions may include lender partnerships that help to increase leverage, or short-term loans that can more easily transition to conventional financing.

 “By working together, we were able to provide the borrower with leverage totaling 80 percent of the acquisition cost, while keeping the blended rate extremely competitive, below ten percent,” says Mizrahi.

All three loans closed concurrently in less than two weeks, according to Lone Oak Fund.

 For a complete copy of the company’s news release, please contact:

Jenn Quader or Amanda Alenick
Brower, Miller & Cole
(949) 955-7940


                        

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