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| 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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