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CARLSBAD, CA-Hospitality industry finance broker Summit Capital has been tapped to place $100 million in debt on behalf of a lender who will fund up to approximately $15 million in loan dollars per deal for projects that meet the specific criteria of the lender. John Stueber, president of Summit, says that the company will conduct the deal analysis and will “present the lender with hotel deals that fit pre-set parameters.”

The lender will fund transactions on existing high-quality assets, with a minimum debt coverage ratio of 1.4 on a 20-year amortization with a term of three to five years. Stueber says that the lender is targeting limited and select service assets, as well as extended stay properties between two and 10 years old on a 65% LTV. The capital is available now. The name of the lending partner is undisclosed.

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