The Hawthorn Suites is a 68 key hotel located in Tempe Arizona. The owner is an Arizona-based hotel owner and operator who had an SBA loan on the property coming to maturity. The $2.5 million loan represents a 70% loan-to-value and provides the owner with a $1.4 million cash out. It carries a 10 year term based upon an initial fixed rate of 4.7%.

The borrower required maximum prepay flexibility should he decide to sell the asset so Tower utilized an existing relationship with a local credit union active in the hospitality space that offers no prepayment penalty to its borrowers.