MMR Realty Advisors
3701 Maywood Court
214.924.6026
Carrollton, TX 75007



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Hotels
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HOTEL and MOTEL PROPERTIES
Eligible Properties: Prefer limited-service, quality-flag properties, Consider full-service properties, but apply limitations to food and beverage revenue. Minimum stabilized occupancy of 60%. Room mix, size and layout should be marketable and comparable to other successful in-market hotel properties. Franchise agreement must have a remaining term of five years beyond the loan term.
Eligible Property Locations: Nationwide; Market areas with a stable occupancy. Access to major highways is important.
Loan Size: $1 Million - $15 Million; may consider up to $25 Million.
Debt Service Coverage: Generally, 1.40 minimum.
Loan-to-Value Ratio: Up to 70%.
Loan Term: 7 or 10 years; self-amortizing long-term loans are also available.
Amortization: 20 to 25 years.
NOI Calculation: Underwrite revenues based on the trailing 12-month history, with adjustments where appropriate, and with reference to industry standards. Maximum occupancy of 75%. Required allocations:

Management Fee - Minimum of 4% of total gross revenues.

Replacement Reserves - Minimum of 5% of total gross revenues.

Franchise Fee - The greater of 4% of total gross revenues or the actual franchise fee.



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MMR Realty Advisors
3701 Maywood Court
Carrollton, TX 75007
Phone: 214.924.6026
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MMR Realty Advisors