# Finance a hotel acquisition without borrowing a CIM

Harbor by Signalry · hotel job `hotel-financing-for-acquisition`
https://harbor.signalry.ai/jobs/hotel-financing-for-acquisition

How and who for the hotel job—verified when attested. Advice unless labeled verified. This brief is a worksheet, not an appraisal and not a quote.

## The job

When I need debt to close, I want a term I can survive in a PIP year — not a compliment that dies if ADR misses 10%.

**Outcome the catalog names:** A term sheet compared on recourse, IO, PIP holdback, franchise consent, and the down-left sensitivity cell.

**Desk:** owner
**Urgency on the catalog:** This close
**Typical budget band (catalog, not a quote):** Lender / broker fees as quoted — Harbor is not a lender
**Typical timeline (catalog, not a promise):** 6–12 weeks in a grown-up file

## Scoped brief

Hotel debt underwrites operations. Rebuild the T12 first. Then compare term sheets on the ugly clauses, not the headline rate.

1. **Do not finance a CIM.** Rebuild rooms. Name NOI. If the lender accepts seller numbers because the clock is short, that is their credit file — not your truth.
2. **Compare the ugly clauses.** Recourse, IO, PIP holdback, ground-lease consent, insurance, prepay. A pretty rate with a mean servicing story is still a mean loan.
3. **Shock the file.** ADR −10% and a PIP year. If debt service dies, write it down before you toast. Harbor’s sensitivity table is a start.
4. **Score a compliment term that dies on the miss, not 'the rate was pretty'.** Harbor is not a lender. A loan that cannot survive the PIP year is the fail.

## When not to buy

Harbor is not a lender. Do not take a compliment term that dies if ADR misses 10%. Read recourse, IO, PIP holdback, and franchise consent.

## Provider shortlist

- [Sable Underwriting Desk](https://harbor.signalry.ai/providers/sable-desk) — people · Boutique acquisition underwriting. Catalog score 8.9 (post-job shape, not a verification).
- [Ledgerlight Accounting](https://harbor.signalry.ai/providers/ledgerlight) — software · Hotel accounting & night audit export. Catalog score 7.8 (post-job shape, not a verification).

## Success the brief names

- T12 rebuilt before term sheets.
- Ugly clauses in a one-page compare.
- A written miss case.

## Pitfalls

- Headline rate shopping.
- Ignoring franchise and ground-lease consent.
- An IO period that hides a PIP year.

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Stable id: `hotel-financing-for-acquisition`
Source: Harbor by Signalry · https://harbor.signalry.ai
Verified Outcome is not insurance. Do not treat a catalog score as attested proof.