AAHOA & Aries Launch Money-Back Financing Program for MembersMarch 28, 2016
Advancing its mission to provide best-in-class benefits to its members, the Asian American Hotel Owners Association, Inc., a Georgia non-profit and trade association (AAHOA), has contracted with commercial mortgage banking and investment firm Aries Capital, LLC as its vendor partner for a new money-saving financing program. Under the agreement, AAHOA members receive money back at closing when they secure commercial real estate financing through Aries Capital. In addition, for every loan closed through the program, Aries shares a portion of its revenue with AAHOA.
“We are extremely excited to partner with Aries Capital on this timely initiative,” said Chip Rogers, AAHOA President and CEO, “Thousands of our members are facing maturing loans or looking to acquire new assets in today’s volatile market. Aries has the lender relationships, market knowledge and proven ability to deliver strategic financing that not only saves members money, but also positions their properties for long-term success.”
AAHOA members are already reaping the rewards. Aries Capital has closed the program’s inaugural loan; an $8.1 million non-recourse loan on behalf of borrower Alpha Hospitality, LLC for a Holiday Inn Express outside Nashville, TN.
Since 1991 Aries Capital has expertly guided clients through the economy’s ups and downs, arranging and/or directly funding over $5 billion for hotel, multifamily and commercial properties across the United States and in the Caribbean, with over $2 billion in hotel transactions. Leveraging long-time relationships with senior decision-makers at Wall Street CMBS firms, life companies, hedge and private funds, regional banks and other institutional investors, Aries is able to consistently deliver the market’s best rates and terms. Hotel owners can take advantage of non-recourse bridge and long-term permanent loans (without the burden of personal guaranties) at LTVs up to 75% and with the potential to take cash out for other investments.
“As hotel owners ourselves, we have an affinity with AAHOA’s members,” said Aries Capital Chairman and CEO Neil Freeman, “AAHOA is a critical force in the hospitality industry and an organization that we have supported for several years. We look forward to bringing this expanded level of service to its members.”