Aries Capital Arranges $11.5M Loan for Hotel Portfolio in Ohio

COLUMBUS, OHIO — Aries Capital has arranged an $11.5 million, non-recourse, CMBS loan for a portfolio of three limited-service hotels in the Columbus, Ohio area. Borrower, Andy Vasani, CEO of Ohio-based Innvite Hospitality Group, used the proceeds to refinance two hotels with a total of 188-rooms, and to acquire a 79-room Hampton Inn. Rushi Shah of Aries Capital’s Chicago office arranged the loan for the borrower. The loan features a 10-year fixed rate and a 25-year amortization schedule.