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| Le Meridien Dallas by the Galleria Hotel, Dallas, TX |
Palm Beach, FL - Robb Capital,
LLC, CRE Loan and Better Commercial Real Estate Mortgage, Inc. are
pleased to announce they have arranged financing in the amount of $42,840,000
for the Le Méridien Dallas by the Galleria.
Le Méridien is a luxurious, 258 all-suite hotel, located in
the city’s premiere North Texas Shopping district, and just steps from the
world renowned Galleria Dallas Mall, art galleries, museums, thriving
restaurant districts, shopping and entertainment.
“We couldn’t be happier with this deal,” says Brian H.
Robb, MBA, MSc, President and Founder of Robb Capital, LLC and CRE Loan (a
DBA under Robb Capital that focuses solely on their non-recourse platform, with
a strong emphasis on commercial mortgage backed securities).
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| Brian H. Robb |
“We are very proud of our team for finding the ideal source
partner, which enabled our borrower to secure customized, long-term,
non-recourse fixed rate financing with an aggressively priced spread,” stated Eric
H. Better, Founder of Better Commercial Real Estate Mortgage and partner in
Robb Capital along with CRE Loan.
According to Mr. Better, two strategic parcels were carved
out of the collateral, with the borrower planning to build a convention center
and parking structure on these pads.
With such diverse plans for the project, this will
significantly increase the net operating income, net cash flow, and overall
value of the hotel.
“After the market recession, we saw our clients filing
corporate and personal bankruptcy to protect their CRE properties,” states Mr.
Robb. “Mr. Better, the president of Better Commercial Real Estate
Mortgage, and I saw that there was a need for a strong non-recourse financing
platform for CRE Loans.
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| Eric H. Better |
Financing terms for the Le Méridien include a 10 year,
non-recourse term with a 70% LTV and a 30 year amortization.
For more information about Robb Capital, LLC, or about the
deal, please visit www.Robb.Capital and www.CRE.Loan
For more information on this press release, please visit:http://www.getnews.info/860780/brian-h-robb-mba-msc-robb-capital-llc-eric-h-better-better-commercial-real-estate-mortgage-inc-arrange-financing-to-the-amount-of-42840000-for-the-le-meridien-hotel-in-dallas.html
Contact:
Contact:
Robb Capital, LLC
Scott Talarico
Email: info@robb.capital
Phone: 561-360-5964
Country: United States
Website: www.Robb.Capital
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