A joint venture between T-Rex Capital Group and Shaner Hotel Group has landed a $36 million financing package to build a planned Marriott-branded hotel property in New York’s Hudson Valley, near the Franklin D. Roosevelt Presidential Library and Museum, Commercial Observer has learned.
X-Caliber Rural Capital (XRC) , an affiliate of X-Caliber Capital and CastleGreen Finance, supplied the debt package for The Inn at Bellefield in Hyde Park, N.Y. XRC provided a $25 million fixed-rate loan through a U.S. Department of Agriculture Business and Industry guaranteed loan program while CastleGreen contributed $11 million of Commercial Property Assessed Clean Energy (C-PACE) financing.
