27 Mar Cornovus Capital arranges $1.8MM to finance hotel renovation and brand transition project
Rendering of the hotel’s future lobby (above) and guest room (below). PHOTOS COURTESY OF RED ROOF INN.
Gerard “Jerry” Dehner, Managing Partner of Cornovus Capital, arranged $1.8MM in financing for a 25,000-square-foot former Knights Inn near Dayton, Ohio, to undergo extensive renovations and become part of the Red Roof Inn brand. Following the renovation, the hotel will feature upgrades to its 76 guest rooms, lobby, common spaces, parking lot, and exterior façade. Renovations are expected to be completed in mid-2019 at the hotel, which is ideally situated near I-75, the University of Dayton Arena, and the Fuyao Glass America plant.
Cornovus Capital arranges transaction financing for commercial real estate and business owners across the country. We maintain established, long-term relationships with partners in sectors that include SBA, CMBS, life insurance, hedge funds, private capital, and regional and national banks.