Business
Mag Mile Capital Closes $163.5 Million in Total Debt on Behalf of HKB Investment Group Structuring Additional $90 Million for 10 Hotel Assets Across Multiple States
Mag Mile Capital Closes $163.5 Million in Total Debt on Behalf of HKB Investment Group Structuring Additional $90 Million for 10 Hotel Assets Across Multiple States.
About this update from Mag Mile Capital Inc.
[{"type":"text","content":"\r\n\r\n \r\n \r\n Mag Mile Capital Closes $163.5 Million in Total Debt on Behalf of HKB Investment Group Structuring Additional $90 Million for 10 Hotel Assets Across Multiple States\r\n \r\n \r\n\r\n\r\nMag Mile Capital Closes $163.5 Million in Total Debt on Behalf of HKB Investment Group Structuring Additional $90 Million for 10 Hotel Assets Across Multiple States\r\n\r\n\r\n\r\nNewsfile Corp.\r\n\r\n\r\nNewsfile Corp\r\n\r\n\r\nChicago, Illinois--(Newsfile Corp. - March 3, 2026) - Mag Mile Capital (OTCQB: MMCP) (\"Mag Mile\") is pleased to announce the successful arrangement and closing of total of $163.5 Million financing in last three months.This was a result of $90,000,000 in portfolio refinancing on behalf of its valued institutional grade client, HKB Investment Group (\"HKB\") for a 10-asset hotel portfolio spanning Georgia, Florida, Ohio, and Indiana. The transaction closed in two parts: one asset in December 2025 for $10.5 Million and nine assets portfolio for $79.5 Million in February 2026. Mag Mile secured average of 62.5% Loan-to-Value across the portfolio implying total asset value of $265 Million. Most of these deals were financed through the U.S. subsidiary of a major U.K. based investment bank with U.S. headquarters out of New York, NY.\r\nThe new portfolio deal consists of select-service and full-service hotel assets strategically located in strong secondary and tertiary markets across the states of Georgia, Florida, Indiana, and Ohio. The portfolio of assets featured strong brand affiliations ranging from Intercontinental Hotels Group, Marriott, Choice, and Wyndham. The non-recourse refinancing was structured to replace existing conventional full-recourse debt provided by community and local banks, reduce borrowing costs, and provide long-term capital stability for the Sponsor's continued growth strategy. This recapitalization provided the Sponsors with capital for short-term brand-required improvements as well as long-term asset enhancement, including potential flag changes and strategic repositioning to increase long-term property values.\r\nThese significant closings underscore Mag Mile Capital's expertise in structuring large, multi-state portfolio refinancings with complex underwriting considerations. The nine-asset transaction required coordination across multiple brands, legal processes, property-level...