West Palm Beach, FL - December 19, 2024 - ATC Managers, LLC is pleased to announce the successful closure of two major hotel refinance transactions totaling $14 million, showcasing the firm's ability to provide innovative financing solutions.
The first transaction involved a $6 million bridge to refinance two hotels situated on the same site. Faced with pressure from their existing lender to exit the bank, the client required immediate action to secure alternative financing. ATC Managers facilitated a bridge loan with a 24-month term, competitive interest-only payments, and no prepayment penalties. This arrangement will afford the borrower the necessary time and flexibility to transition to a conventional loan.
The second deal encompassed an $8 million refinance for a hotel owned by multiple partners. The client aimed to reduce their interest rate, which was above 10%, while also accessing cash-out funds for future investments. ATC Managers successfully negotiated a fixed-rate loan at an attractive 8.3%, accompanied by a 5-year amortization schedule. This arrangement significantly decreased monthly payments and provided the liquidity the partners sought.
Vanmatre Wilbur, CEO of ATC Managers, expressed his enthusiasm about these successful transactions:
These deals exemplify our commitment to discovering the optimal solutions for our clients, even in challenging circumstances. By leveraging our extensive network and market expertise, we were able to deliver competitive rates and flexible terms that meet our clients' financial goals. At ATC Managers, we take pride in being a dependable partner in navigating intricate financing challenges.
These transactions highlight ATC Managers' capacity to adapt to evolving market conditions and provide clients with the customized financial support they need to succeed.
