PIP Loan Financing of a Holiday Inn Express in Detroit, Michigan

Deal Details

Private Loan Type


Approx. Funding Date


Property Type
Property City


Property State


Lien Type

1st Mortgage

Payment Type

Interest Only

Number of Units


Deal Summary

Ontario Wealth Management Corporation, a Toronto-based commercial real estate loan origination and servicing company, funded a $5,000,000 1st lien position bridge loan secured by a hotel in Detroit, MI. Owemanco provided PIP Financing secured by a 105-room Holiday Inn Express in an upper-class suburb northwest of Detroit, MI. The Hotel operates under a 15-year renewed license agreement with IGH, a brand that spans 850,000 rooms worldwide. This CRE refinance bridge loan was funded in March 2019.

Funded By

Ontario Wealth Management Corporation

Direct Lender for Commercial Real Estate Bridge Loans