14A — April 15 - 28, 2016 — Financial Digest — M id A tlantic

Real Estate Journal


F inancial D igest

Funding will be utilized to pay off existing debt on two hotel properties Silver Arch Capital Partners completes $5m DPO financing


the Borrower providing signifi- cant cash equity,” said Wolfer. “At the same time, the prop- erties are situated in second- ary markets, which makes it even more difficult to obtain financing,” he said. “Lend- ers typically look to provide financing in larger markets, where they feel most comfort- able. “Silver Arch routinely as- sists borrowers with out-of- the-ordinary situational loans and we are fully prepared for this type of transaction,” add- ed Wolfer. “DPO’s and proper- ties in secondary markets are right in our wheelhouse.”

The hotel properties operate under the Holiday Inn banner in the Mid-Atlantic region, and are owned by experienced owner/operators. Located in Center City Allentown, PA, the nine-story Holiday Inn includes a total of 224 guest rooms. “The market has been matching the region’s job growth,” said Wolfer. “The tre- mendous downtown revitaliza- tion of Allentown over the last several years spearheaded by the development of the 10,000- seat PPL Center, will continue to support the hospitality growth in Allentown.” The second property in the transaction is the Holiday Inn Select Hotel & Conference Center, a 241-room property consisting of a single-story building and attached eight- story tower on 1.75 acres in Lynchburg, VA. “Lynchburg has tradition- ally enjoyed steady growth, and the current solid economic outlook enhances long-term economic growth,” saidWolfer. “The area will likely continue to show growth in population, median household income and retail sales—all key drivers for the hospitality industry.” n Case Real Estate Capital finalizes $3.5m transaction ROCHELLE PARK, NJ — Case Real Estate Capital, LLC (Case) , a commercial non-performing - secured by residential investment prop- erties located in Manhattan and Hunterdon County, New Jersey. The purchase is part of Case’s new joint venture agreement with a N.Y.-based real estate credit fund. “This marks the first of many transactions we expect to do with our new joint ven- ture partner,” said Sandy Herrick , founder and man- aging principal of Case. “We are seeing tightened liquidity and concern from conventional lenders right now. This envi- ronment is one of great op- portunity.” n Sandy Herrick real estate investment firm, has fi- nalized a $3.5 million trans- action, pur- chasing three senior notes – two perform- ing and one

ACKENSACK, NJ — Silver Arch Capital Partners has com-

pleted a $5 million financ- ing secured by two hotels, announced Jeffrey Wolfer , president and CEO of the Hackensack, NJ-based private lender. The funding will be utilized for a discounted payoff (DPO) of existing debt, accord- ing to Wolfer. “The borrower came to us seeking a loan to execute a dis- counted payoff of the existing financing on the two proper- ties, and conventional banks simply don’t want to provide loans for that purpose without

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