Deal of the Week: Tru by Hilton in Norco, Calif.
The pandemic and initial supply chain issues made it difficult to reign in the cost of the project. The timing was also tough coming out of the pandemic and financing for hotels was tighter. This is a higher leverage deal where AVANA offered a construction loan that converted to an SBA 504 perm loan. The upper midscale property will have 109 keys. The borrower was getting into a new hotel segment relative to his portfolio. More











