Mag Mile Capital Secures $13 Million CMBS Financing for Hampton Inn Harker Heights
Mag Mile Capital (OTCQB: MMCP) has successfully secured $13 million in CMBS financing for the Hampton Inn Harker Heights in Texas. The non-recourse loan, closed on February 25, 2025, features a 65% loan-to-value ratio, 10-year term, and 30-year amortization schedule with a fixed interest rate of 7.50%.
The strategic financing aims to enhance the property's long-term financial stability and optimize cash flow in the growing Harker Heights market. The transaction, led by CEO Rushi Shah and VP of Originations Prabhat Jayara, represents a significant cash-out opportunity for the developer to recycle equity for growth and diversification.
Mag Mile Capital (OTCQB: MMCP) ha ottenuto con successo 13 milioni di dollari in finanziamenti CMBS per l'Hampton Inn Harker Heights in Texas. Il prestito non ricorsivo, chiuso il 25 febbraio 2025, presenta un 65% di rapporto prestito-valore, un termine di 10 anni e un piano di ammortamento di 30 anni con un tasso d'interesse fisso del 7,50%.
Il finanziamento strategico mira a migliorare la stabilità finanziaria a lungo termine della proprietà e ottimizzare il flusso di cassa nel crescente mercato di Harker Heights. La transazione, guidata dal CEO Rushi Shah e dal VP delle Origination Prabhat Jayara, rappresenta un'opportunità significativa di cash-out per il sviluppatore per riciclare capitale per la crescita e la diversificazione.
Mag Mile Capital (OTCQB: MMCP) ha asegurado con éxito 13 millones de dólares en financiamiento CMBS para el Hampton Inn Harker Heights en Texas. El préstamo sin recurso, cerrado el 25 de febrero de 2025, cuenta con un 65% de relación préstamo-valor, un plazo de 10 años y un plan de amortización de 30 años con una tasa de interés fija del 7,50%.
El financiamiento estratégico tiene como objetivo mejorar la estabilidad financiera a largo plazo de la propiedad y optimizar el flujo de efectivo en el creciente mercado de Harker Heights. La transacción, liderada por el CEO Rushi Shah y el VP de Originaciones Prabhat Jayara, representa una oportunidad significativa de cash-out para que el desarrollador recicle capital para el crecimiento y la diversificación.
Mag Mile Capital (OTCQB: MMCP)는 텍사스의 Hampton Inn Harker Heights를 위해 1300만 달러의 CMBS 자금을 성공적으로 확보했습니다. 비상환 대출은 2025년 2월 25일에 종료되었으며, 65%의 대출-가치 비율, 10년 만기, 30년 상환 계획과 고정 이자율 7.50%를 특징으로 합니다.
이 전략적 자금 조달은 자산의 장기 재정 안정성을 높이고 성장하는 Harker Heights 시장에서 현금 흐름을 최적화하는 것을 목표로 합니다. CEO Rushi Shah와 기원 부사장 Prabhat Jayara가 이끄는 이 거래는 개발자가 성장을 위한 자본을 재활용할 수 있는 중요한 현금 인출 기회를 제공합니다.
Mag Mile Capital (OTCQB: MMCP) a réussi à obtenir 13 millions de dollars de financement CMBS pour l'Hampton Inn Harker Heights au Texas. Le prêt non-recours, clôturé le 25 février 2025, présente un ratio prêt-valeur de 65%, une durée de 10 ans et un plan d'amortissement de 30 ans avec un taux d'intérêt fixe de 7,50%.
Ce financement stratégique vise à améliorer la stabilité financière à long terme de la propriété et à optimiser le flux de trésorerie sur le marché en pleine croissance de Harker Heights. La transaction, dirigée par le PDG Rushi Shah et le VP des Origination Prabhat Jayara, représente une opportunité significative de retrait de liquidités pour le développeur afin de recycler des fonds propres pour la croissance et la diversification.
Mag Mile Capital (OTCQB: MMCP) hat erfolgreich 13 Millionen Dollar an CMBS-Finanzierung für das Hampton Inn Harker Heights in Texas gesichert. Der nicht rückzahlbare Kredit, der am 25. Februar 2025 abgeschlossen wurde, weist ein 65% Verhältnis von Kredit zu Wert, eine Laufzeit von 10 Jahren und einen 30-Jahres-Amortisationsplan mit einem festen Zinssatz von 7,50% auf.
Die strategische Finanzierung zielt darauf ab, die langfristige finanzielle Stabilität der Immobilie zu verbessern und den Cashflow im wachsenden Markt von Harker Heights zu optimieren. Die Transaktion, die von CEO Rushi Shah und VP der Originierungen Prabhat Jayara geleitet wird, stellt eine bedeutende Cash-Out-Möglichkeit für den Entwickler dar, um Eigenkapital für Wachstum und Diversifizierung wiederzuverwerten.
- Secured substantial $13M CMBS financing
- Non-recourse loan structure reduces company risk
- Significant cash-out opportunity for equity recycling
- Strong institutional banking relationship demonstrated
- Relatively high interest rate at 7.50%
Chicago, Illinois, March 12, 2025 (GLOBE NEWSWIRE) -- Mag Mile Capital, Inc. (OTCQB: MMCP) ("Mag Mile", or the "Company") is pleased to announce the successful closing of
The financing was structured with a
Rushi Shah, CEO and Principal of Mag Mile Capital, along with Prabhat Jayara, Vice President of Originations, led the transaction. The strategic financing will support the long-term financial stability of the property, allowing ownership to optimize cash flow and maintain operational excellence in the growing Harker Heights market.
“This refinance closing was one of the cleanest transactions we have closed with one of our best top tier investment banks institutional relationships that we have. “This beautiful asset’s massive cash out represents how best a developer should use a non-recourse CMBS loan product to repatriate their equity out to recycle for growth and diversification.”
Mag Mile Capital remains committed to delivering tailored financing solutions across the hospitality sector and beyond, leveraging its extensive lender relationships and innovative capital strategies.
Deal: Hampton Inn Harker Heights
Location: Harker Heights, TX
Financing type: CMBS
Loan Amount:
LTV:
Loan Term: 10 Years
Amortization: 30 Years
Recourse: Non-Recourse
Closing Date: 02/25/2025
Interest Rate:
Originators: Rushi Shah & Prabhat Jayara
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About Mag Mile Capital – Turning Relationships into Closings Since 1991
Mag Mile Capital is a boutique full-service commercial real estate mortgage banking firm headquartered in Chicago with offices in the states of New York, Massachusetts, Connecticut, Florida, Texas, and Nevada. Mag Mile Capital is a national platform comprised of capital markets specialists with extensive experience in real estate bridge financing, mezzanine and permanent debt placement and equity arrangements throughout the full capital stack and across all major real estate asset classes. The firm offers preferred access nationwide to high-leverage, non-recourse, commercial real estate bridge loans and permanent mortgages with cash out financing for hotels, self-storage, multifamily, industrial, retail, office, and other commercial real estate property, offering access to structured debt and equity advisory solutions and placement for real estate investors, developers, and entrepreneurs, Mag Mile Capital leverages a wide variety of lending relationships and equity capital connections as a leading national real estate mortgage intermediary. Its personnel have collectively closed over
For the latest details on Mag Mile Capital investments, visit our website at: www.magmilecapital.com and follow us on social media: Facebook, Twitter, LinkedIn, Instagram.
Forward-Looking Statements
The Company believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Terms such as “may,” “might,” “would,” “should,” “could,” “project,” “estimate,” “pro-forma,” “predict,” “potential,” “strategy,” “anticipate,” “attempt,” “develop,” “plan,” “help,” “believe,” “continue,” “intend,” “expect,” “future,” and terms of similar import (including the negative of any of these terms) may identify forward-looking statements. The forward-looking statements in this press release include statements regarding the benefit of qualifying our common shares for trading on the OTCQB market. Such forward-looking statements, including but not limited to statements regarding the plans and objectives of management for future operations, are based on management’s current expectations and are subject to risks and uncertainties that could cause results to differ materially from the forward-looking statements. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the accuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, market acceptance of the company’s products and services; competition from existing products or new products that may emerge; the implementation of the company’s business model and strategic plans for its business and our products; estimates of the company’s future revenue, expenses, capital requirements and need for financing; current and future government regulations; and developments relating to the company’s competitors. Readers are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them. For further information on such risks and uncertainties, you are encouraged to review the Company’s filings with the Securities and Exchange Commission (“SEC”), including its quarterly report on Form 10-Q for the fiscal period ended September 30, 2024. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.
For further information contact:
Rushi Shah
CEO
Tel: 1.312.642.0100
inquiries@magmilecapital.com
www.magmilecapital.com
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