Deal Close
June 10, 2026
Type
Hospitality, 86 rooms
Mitt Patel
Debt Placement Team
Executive Summary
Greysteel arranged the original financing on this hotel three years before this refinance, and stayed in front of the borrower with market updates every three to six months in between.
That consistency paid off: the refinance delivered cash-out proceeds, cut the borrower’s rate by about 40 basis points to 6.35% fixed through a credit union, with no prepayment penalty.
The Challenge
Refinancing well ahead of any forced timeline meant proving there was a real economic case for the borrowers to act now rather than wait, and doing it through a single lender relationship rather than a broad, multi-lender canvass.
The Solution
Greysteel’s ongoing relationship with both the borrower and the original lender meant the team could go directly to the one lender it already had strong standing with, rather than running a wider process, closing efficiently on favorable terms.
Results
- Refinance closed at 6.35% fixed for five years, roughly 40 basis points below the prior rate
- Cash-out proceeds delivered to the borrower
- No prepayment penalty, preserving exit flexibility
- Proceeds earmarked for the borrower’s next hotel acquisition
“Greysteel secured a five-year fixed-rate loan at 6.35% through a credit union, reducing the borrower’s interest rate while generating […] cash-out proceeds. The financing featured no prepayment penalty, providing flexibility for the borrower’s planned acquisition strategy and delivering a cost-effective capital solution through an established lending relationship.” — Mitt Patel, Greysteel Lead Deal Contact, Debt Placement Team
Greysteel Advisory Expertise
Greysteel is a commercial real estate advisory firm specializing in investment sales and debt and structured finance, serving private investors, middle-market operators, and institutional clients nationwide.
The firm provides sector-focused advisory across multifamily, healthcare, and affordable housing and other commercial real estate asset classes, delivering market intelligence, capital markets expertise, and disciplined execution.
