CASE STUDY: Holiday Inn Express

Property Type: Hospitality

City & State: Texas (Tertiary Market)

Loan Amount: $6.3M

Resolution: COVID Relief

1. Extend Excess Reserve Requirements

2. PPP Consent

3. FF&E Wavier

4. Late Fee Waiver (2 months)

5. Release of PIP reserves ($288K)

6. Cash Management trigger was waived.

Master Servicer: Midland

Special Servicer: Rialto  

Date completed: June 15, 2020