About Remington Financial Hospitality.
The extensive success of Remington Financial Group (RFG) in securing hospitality-based financing stems from its well-established relationships with highly-regarded domestic and foreign based private and institutional capital sources. Our extensive lender network - combined with market expertise and a highly disciplined due diligence and transaction process - means our hospitality clients benefit from integrated financing.
Knowing that hoteliers and other hospitality professionals can't afford long periods of downtime, RFG works to streamline and expedite the process of securing funds. Additionally, throughout the due diligence and financing process, Remington seeks to provide customers with a clear picture of the status of their transaction and any costs associated with it. RFG proactively works to overcome obstacles before they become barriers to a successful close. Delivering exceptional service throughout the process, Remington offers a variety of creative financing options with highly competitive rates for:
Conventional financing | Hard-money loans | Bridge loans | Construction loans
Representing clients exclusively, Remington carefully manages the formation of all tiers of capital, so they are uniquely structured and tailored for every hospitality transaction. This process saves clients time and money while significantly reducing transaction risk. Time and again, Remington has delivered refined capital solutions to complex commercial real estate transactions, which other sources would not have considered.
When it comes to existing deals that may be at risk, Remington can also help revitalize them with our expert advisory services or assist with a comprehensive set of financing programs including origination, evaluation, transaction structuring, preparation and underwriting, negotiation and coordination of placement, and closing processes.
Remington Financial Group, Inc. - Hospitality Closings.
$58 Million 2200 Key Portfolio
One of Remington's most interesting and challenging deals was for one of the largest franchisees of a global hotel giant that spans six continents. The franchisee came to RFG to secure financing for a group of hotels with a total of 2,200 rooms located in Florida. From the beginning, Remington Financial Group faced seemingly insurmountable obstacles. Due primarily to their age, the hotels were unable to compete with newer properties going up nearby, and had drifted into bankruptcy. Moreover, the hotels were valued at only about $70 million, while they carried a first mortgage of about $100 million. On top of that, the hotels faced substantial and expensive environmental issues.
By the time Remington came aboard, the borrower was resigned to losing the property to the lender since no investment bank had been able to make headway for the borrower in more than 18 months of trying. Once on board, a bankruptcy court judge gave RFG just 30 days to submit a financial plan and to secure a pledge for funding.
Understanding that the lender did not wish to acquire the hotels as an asset, Remington Financial Group leveraged its solid relationship with the lender to arrange a deal that allowed the hotel owner to pay off the mortgage at a reduced rate. The reduced payout rate created a tax liability, which necessitated more funding to eliminate. Additionally, correcting the existing environmental issues required still more capital.
Remington was able to address the considerable needs of the property, while still keeping in mind the capital necessary for renovating the properties in order to make them competitive in their markets. Because of its experience funding unique properties and its strong lender relationships RFG was able to secure market rate non-recourse senior financing and participated in the mezzanine capital tier to provide a $58MM package of financing that allowed the borrower to retain 100 percent ownership in the properties and emerge from bankruptcy. The transaction closed in 45 days.
$5.5 Million Non-recourse Permanent Financing
A long time and repeat borrower of Remington once again selected RFG's permanent financing to refinance its name brand hotel in northern Vermont.
RFG competed with the borrower's options and won based on the extremely low rate it was able to secure along with other favorable terms such as low reserves and short time frame to close. This transaction was the seventh property financed by RFG over its long term relationship with the borrower which has been established on the borrower's confidence in RFG's execution and reliability. The financing was structured with a 10 year term, 30 year amortization and a fixed rate of 5.35 percent.
Remington Financial Group, Inc. - Available Hospitality Financing Programs
Senior Debt/Equity Financing
Mezzanine/Bridge Loan Financing
Joint Venture Financing
Multifamily
Remington Arranges
Specialized Financing For:
Remington Capital is a leading investment banking firm looking to finance projects between $500k and $1B.
Remington Financial Group, Inc. - (RFG) - Has Access to Joint Venture Financing
Remington Financial Group, Inc. - Joint Venture Financing Available in 2009
Remington Financial Group, Inc. - (RFG) - Has Access to Over $400M in Hospitality Financing
Remington Financial Group, Inc. - Has Access to Over $900M in Capital!
Remington Financial Group, Inc. - (RFG) - Has Access to Capital!
Remington Financial Group, Inc. - (RFG) - Has Access to Hard Money Financing in 09'
Remington Financial Group, Inc. - Has Access to Over $500M in Hard Money Financing
Remington Financial Group, Inc. - Has the Ability to Close Commercial Loans
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