Mag Mile Capital Arranges $8.6M Acquisition Loan for Days Inn Hotel in Downtown Baltimore
BALTIMORE — Mag Mile Capital has arranged an $8.6 million acquisition loan for a 250-room Days Inn hotel located at 100 Hopkins Place in downtown Baltimore. The three-year, non-recourse, cash-out bridge loan was underwritten with an 8 percent interest rate with two-one year extension options. The borrower and direct lender were not disclosed. Situated near Baltimore’s Inner Harbor district and Oriole Park at Camden Yards, the Days Inn hotel features a 24-hour reception desk, bar and restaurant, business center, café, banquet facilities, fitness center, meeting room, onsite parking, a sundries market and an outdoor swimming pool.