In September, ORIX RE Holdings, LLC, the proprietary debt and equity banking arm of ORIX Real Estate Americas, closed an $8.2 million acquisition and bridge loan for a 239-room Embassy Suites hotel located in Southfield, MI, which is a northwestern suburb of Detroit. The financing was structured as a Libor floater with an initial $4.6 million funding and a $3.6 million renovation holdback to fund material property improvements.
ORIX Real Estate Americas is dedicated to providing creative capital solutions to experienced hotel owner/operators. ORIX’s experienced real estate professionals can originate loans on a wide variety of property types and offers construction and bridge financing.