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CWB Franchise Finance Partners with ALT Hotels

August 16, 2019, 07:10 AM
Filed Under: Franchise Finance

CWB Franchise Finance (CWB) has participated in a largescale facility to refinance seven ALT Hotels in Canada. CWB provided a portion of a larger loan to complete it.

ALT Hotels is a division of Group Germain Hotels, with properties in Toronto, Halifax, Montreal, Quebec City, Ottawa, St John's and Saskatoon.

"We are delighted to have been able to participate in such a large refinancing for this growing and respected brand," said Cameron Woof, Assistant Vice President of Hotels and Syndication with CWB Franchise Finance. "Our aim is to provide not only financing for our clients, but genuine advice and expertise in the hotel space."

CWB's solution included facilities for the refinancing and a revolving line of credit, unlocking a significant amount of capital for renovations and brand expansion. CWB's expertise also found a solution for ALT Hotels to finance two un-stabilized new build hotels in Saskatoon and St. John's by leveraging the broader cross-collateralized security package of their stabilized assets in strong markets.

"We are thankful to all of our partners who helped us secure the financing we needed to see us into the future," says Annie Landry, Vice President of Finance with Group Germain. "CWB's portion of the loan provided us with the necessary capital to complete new projects and poises us well for future growth. Their turnaround time and expertise (were) impeccable, and we are thankful to have found a partner that understands our industry and our needs."

CWB Franchise Finance, a division of CWB Financial Group, specializes in financing for regional and national restaurants and hotels and is a leading lender to the Canadian restaurant and hospitality industries. Previously GE Capital Canada's franchise financing arm, CWB Franchise Finance was acquired by CWB Financial Group in 2016 following a successful track record of more than 800 clients with upwards of 1,525 property locations over 14 years. To date, more than $3 billion has been invested in the Canadian hotel and restaurant space.

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