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Case Study

Hotel Recapitalization

$18.0MM Defaulted Construction Loan

50-key, full-service boutique hotel located in Savannah, GA.

Successfully recapitalized with new floating rate loan, to pay-off defaulted construction loan that matured in April 2020, three months after the hotel opened and during the COVID-19 pandemic.

ThornOak worked with the construction lender to delay the foreclosure sale and negotiated a forbearance agreement to have time to source a new financing partner.

Hotel TV
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