Mag Mile Capital Arranges $15.9 Million in Financing for Hampton Inn El Paso, Texas Acquisition

Core Insights - Mag Mile Capital successfully arranged $15.9 million in financing for the acquisition of the Hampton Inn El Paso by Nexgen Management, a hotel ownership and management firm based in Dallas [1][4] - The financing package includes a $13.9 million senior CMBS loan and a $2 million mezzanine loan, achieving over 80% loan-to-purchase price leverage [2][4] - The transaction highlights the challenges in securing mezzanine financing in the current market, yet Mag Mile Capital was able to provide competitive terms [3] Financing Details - Total Financing: $15,900,000 [4] - Senior Loan: $13,900,000 [4] - Mezzanine Loan: $2,000,000 [4] - Total Leverage: 80%+ Loan-to-Purchase Price [4] - Term: 5 Years [4] - Rate Type: Fixed Rate [4] Market Positioning - The Texas border market offers unique opportunities, and Nexgen Management's experience in this area made them a suitable candidate for the transaction [3] - Mag Mile Capital's ability to creatively source and structure capital, even in limited market segments, is emphasized [4] - This transaction marks the fourth deal closed with Nexgen Management, totaling over $75 million in closed deals with the client [4] Company Overview - Mag Mile Capital is a boutique commercial real estate mortgage banking firm headquartered in Chicago, specializing in sophisticated financing solutions since 1991 [5] - The firm leverages deep capital markets relationships to deliver tailored solutions across all major asset classes [5]