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Alex Draganiuk Draganiuk: “Lenders need comfort with a hotel and confidence that the recent renovations are something guests will be attracted to, and which will yield improved property cash flow.”

SAN DIEGO—Hoteliers who procure a ramp loan after renovating and prior to securing permanent financing are essentially cutting the effective interest rates by hundreds of basis points, Alex Draganiuk, director in the debt and equity finance group at Mission Capital Advisors, tells GlobeSt.com. The firm’s team of Draganiuk, Gregg Applefield and Lexington Henn recently represented property owner SD Carmel Hotel Partners LLC in securing a three-year loan from a private-equity fund as a $20.75-million ramp loan for the Hotel Karlan, a 174-key, soft-branded DoubleTree by Hilton located in northern San Diego. The first-mortgage financing will replace the property’s renovation loan and a preferred-equity loan.

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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