AVANA Companies, a direct lender specializing in commercial loans, announces a new co-lending construction program with IHG Hotels & Resorts, one of the world's leading hotel companies. This collaborative initiative aims to accelerate U.S. hotel development within the IHG brand family. Hotel owners and developers seeking to build or convert properties under select IHG brands can apply for these loans, providing a crucial lifeline in a challenging lending environment.
The program offers a borrower-friendly alternative to standard financing through a competitively priced blended rate. It addresses financial hurdles in today's hotel investment landscape, where traditional lenders have tightened their criteria. AVANA and IHG will commit $250 million in construction loans for U.S.-based projects primarily across the EVEN Hotels, avid hotels, Atwell Suites and Holiday Inn brands.
"This collaboration with IHG creates a powerful financing solution for hotel owners in today's challenging hospitality landscape," said Sundip Patel, CEO and Founder of AVANA Companies. "Our institutional investment partners and this co-lending program with IHG amplify our ability to provide crucial financing, driving economic growth and creating jobs in communities across the U.S."
Read the full article: https://constructioncitizen.com/blog/avana-and-ihg-launch-co-lending-construction-program-fuel-us-hotel-development/2502061
This article was originally published on constructioncitizen.com. Accessed on Feb 6, 2025.
