While exact terms of the mortgages were undisclosed due to confidentiality agreements, a statement from the company noted the largest loan is about $80 million secured by a California-based company for 13 extended-stay properties primarily located on the West Coast. The loan has a 9.54% interest rate.
The other hotel loans include both full and limited service hotels nationwide. Carlton Advisory, founded in 1991, is a loan sale firm specializing in investment sales, and debt and equity placement. Within the past few years, the company has completed more than $5 billion in loan sales, according to a statement.
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