05/27/2026
🏨 JUST CLOSED — $2,530,000
63-Room Howard Johnson by Wyndham | Florida
Deal Type: Seller Note Loan Refinance to Conventional Loan
✔️ 60% LTV
✔️ 6.50% Fixed Interest Rate
✔️ 5-Year Term / 20-Year Amortization
✔️ .75% Origination Fee
✔️ Prepayment Penalty: 3 / 2 / 1 (refinance only)
The owners acquired the property in 2021 using seller financing, with the note set to mature in July 2026. Since acquisition, they invested over $250,000 in renovations and completed all required PIP updates to remain in compliance with Wyndham standards.
Despite strong cash flow, refinancing the seller note and addressing the upcoming balloon payment proved challenging in today’s lending environment.
Legacy Lending Partners stepped in to structure and secure the refinance ahead of maturity. By highlighting the property’s solid performance, conservative 60% LTV, and the absence of near-term franchise renovation requirements, a relationship lender was brought to the table.
The result: a competitive 6.50% fixed rate in a tightening market for economy hotel assets—an asset class many conventional lenders tend to avoid.