$10.2M CONSTRUCTION LOAN ARRANGED FOR 101-ROOM HOLIDAY INN EXPRESS

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BORDENTOWN, N.J. — Aileron Capital Management has closed on a $10.2 million loan for the construction of a 101-room Holiday Inn Express in Bordentown. Structured as a SBA 504 loan, the $6.1 million first mortgage loan was provided by Aileron; Mercantile Capital and EnviroCap provided a $4.2 million interim second mortgage loan. Once the hotel is completed, the loan will be converted to long-term permanent financing.

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