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Pinnacle Financial Group, Inc. closes three hotel transactions with three distinct lending sources totaling $26.3 million.

May 4th, 2015

Pinnacle Financial Group, Inc. has shown its versatility and breadth of lending sources by closing three hotel transactions in the spring of 2014.

The Holiday Inn in Fairlawn, Ohio was closed with one of Pinnacle’s correspondent life insurance company relationships on a 10/25 structure, no reserves, and a loan amount of $5.3 million. The loan-to-value was 65% and the interest rate was locked at application at the beginning of the 45 day closing time frame.

In May of 2014, Pinnacle closed the loan on the Holiday Inn Express at 629 Euclid Ave in Cleveland, Ohio for $9.5 million. This loan was for 141 rooms and was executed by Prudential Mortgage Capital’s CMBS Arm. The hotel was owned in an entity that possessed multiple property types in one urban building, all encompassed on one tax parcel. Pinnacle assisted the borrower in separating the hotel to have its own air rights tax parcel and be owned by a single asset entity; all to receive the best CMBS execution available; maximum leverage, longest amortization and the lowest interest rate.

The third hotel transaction of note was a non-recourse bridge loan from an institutional lender for the redevelopment of the Beachwood, Ohio Hotel Indigo,…

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Pinnacle Financial Group, Inc. Finances Nine Discount Drug Mart Anchored Centers Totaling $22.875 Million

May 1st, 2015

Pinnacle Financial Group, Inc. is proud to announce the recent financing of nine Discount Drug Mart anchored retail centers located throughout Ohio. The financings were completed in two pools with two of Pinnacle’s life company correspondent lenders.

Pool one containing five properties with loan dollars totaling $12,350,000 was completed with Advantus Capital Management featuring a 10 year term and 20 year amortization.

Pool two contained four properties with loan dollars totaling $10,525,000 was completed with Protective Life Insurance Company and featured a 15 year term and 15 year amortization.

The lenders for each property were able to co-ordinate closing dates to coincide with the most attractive pay off date for borrower on their previous financing.

Pinnacle was formed in 1990 and is currently one of the largest independently owned mortgage banking companies in the Midwest. Pinnacle is a leading member of Strategic Alliance Mortgage (SAM), an organization of 23 mortgage banking companies with 51 offices throughout the United States. SAM ensures local expertise within a powerful national platform. Pinnacle consistently delivers their clients the best possible capital available in the market. For more information about Pinnacle, its partners and services please visit their website at www.pinnaclefinancialgroup.com