Construction of Hyatt Place Hotel
N/AOUTCOME: Received $10M loan
After the necessary municipal approvals were obtained I was brought in to oversee the closing of the financing. The first was a loan from Salisbury Bank’s Riverside Division and Bank of Greene County. ... The second was a bridge loan from Mercantile Bank and the third is SBA financing that will take over the Mercantile loan after construction is complete. With three different lenders offering a total of $10M for the construction, this project was a complicated financial matter and required an organized, knowledgeable attorney who could coordinate the multiple working pieces to ensure a timely simulations closing with all lenders. Glass has more than a decade of experience working with a variety of financial institutions and borrowers on a multitude of secured lending projects, which made her perfectly suited to accomplish this goal.
