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Chicago's Aries Funds Ramada Unit

ATLANTA-The Wall Street conduit lender provides a $1.95 million loan to Ramada Limited Suites in suburban Forest Park, GA to pay off the original construction financing on the five-year-old, 79-room property.

By Alex Finkelstein | Updated on July 11, 2001

ATLANTA-The five-year-old, 79-room Ramada Limited Suites in suburban Forest GA, just south of Downtown, is retiring its original construction financing with a $1.95 million loan from Chicago-based Aries Capital.

The 10-year loan is funded with a 22.5-year amortization and an interest rate of 8.5%. The loan-to-value ratio is 54.9%. Viru Patel of Sunshine Nationwide Financing was the correspondent in the transaction.

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