AveragePenny
4週前
$MMCP Mag Mile Capital Reports Record First Quarter 2026 Results with 205% Revenue Growth and Return to Profitability
https://www.newsfilecorp.com/release/297623/Mag-Mile-Capital-Reports-Record-First-Quarter-2026-Results-with-205-Revenue-Growth-and-Return-to-Profitability
Chicago, Illinois--(Newsfile Corp. - May 15, 2026) - Mag Mile Capital, Inc. (OTCQB: MMCP) ("Mag Mile" or the "Company"), a national commercial real estate mortgage banking and capital advisory firm, today announced financial results for the quarter ended March 31, 2026.
First Quarter 2026 Financial Highlights
Revenue increased 205% year-over-year to $2.38 million, compared to $780,500 in Q1 2025.
Gross profit increased 173% to $698,293, compared to $256,080 in the prior-year period.
Net income improved to $301,433, versus $9,714 in Q1 2025.
Cash increased to approximately $644,000 as of March 31, 2026.
Generated positive operating cash flow of $130,339 during the quarter.
Stockholders' equity improved from a deficit position of $(290,333) at year-end 2025 to positive equity of $11,100.
Operational Momentum Driven by Large Institutional Transactions
The Company's strong performance was driven by increased commercial real estate financing activity, including the successful closing of a $79.5 million refinance transaction for HKB Hotels Group, which generated approximately $1.39 million in gross revenue.
Mag Mile experienced significant momentum in the Commercial Mortgage-Backed Securities (CMBS) market, which management described as 'very active in Q1.'
The Company generated approximately $1.19 million of securitization fees and approximately $1.19 million of success fees during the quarter.
Management Commentary
"We believe Q1 2026 represents a major inflection point for Mag Mile Capital," said Rushi Shah, Chief Executive Officer of Mag Mile Capital.
"Delivering over 200% revenue growth and achieving meaningful profitability in a challenging commercial real estate environment demonstrates the strength of our platform, our lender relationships, and our ability to execute complex institutional transactions."
"We are seeing increased activity across the CMBS and structured finance markets, while a growing wave of commercial real estate maturities is creating substantial refinancing demand nationwide. We believe Mag Mile is exceptionally well-positioned to capitalize on these trends."
Strategic Growth Initiatives
Mag Mile continues to expand its national commercial real estate finance platform across multiple states.
The Company continues development of CapLogiq, its proprietary commercial real estate origination software platform utilizing automation and artificial intelligence.
Management remains focused on expanding originations nationwide, increasing institutional lender relationships, recruiting top-producing originators, and pursuing strategic acquisition opportunities.
Balance Sheet and Liquidity
Cash totaled approximately $644,116 as of March 31, 2026.
Working capital totaled approximately $169,103.
Management believes the Company's improving profitability profile and positive operating cash flow position Mag Mile for continued growth in 2026.
AveragePenny
2月前
$MMCP Mag Mile Capital Closes $10.3 Million Financing for Delta Hotels by Marriott in Bristol, Virginia on Behalf of Hulsing Hotels
https://www.newsfilecorp.com/release/294352/Mag-Mile-Capital-Closes-10.3-Million-Financing-for-Delta-Hotels-by-Marriott-in-Bristol-Virginia-on-Behalf-of-Hulsing-Hotels
Bristol, Virginia--(Newsfile Corp. - April 27, 2026) - Mag Mile Capital, Inc. (OTCQB: MMCP) ("Mag Mile" or "the Company") is pleased to announce the successful closing of a permanent financing for the Delta Hotels by Marriott Bristol, a full-service hotel located in Bristol, Virginia. The transaction was structured as a 10-year fixed-rate loan for $10.3 Million with a 25-year amortization schedule and was arranged on behalf of Hulsing Hotels, the sponsor. The financing provides strategic cash-out proceeds to the ownership group and also facilitated a partial partner buy-in, allowing for an equity restructuring of the asset.
This transaction marks the fourth financing Mag Mile Capital has successfully completed on behalf of Hulsing Hotels, further cementing a long-standing partnership built on trust, execution, and a shared commitment to delivering superior capital solutions. A key factor in securing favorable permanent financing was the strength of the sponsorship's conviction in the asset: prior to this transaction, Hulsing Hotels invested over $6 million to convert the property from a Holiday Inn to a Delta Hotels by Marriott, a full-service Marriott International brand. That capital investment meaningfully elevated the property's profile, establishing it as one of the only full-service, premium-branded lodging options in the market — a competitive distinction that translates directly into a captive demand base and pricing power. Lenders recognized the significance of that transformation, and the quality of the sponsorship, in underwriting a transaction in a select-demand market.
"Closing our fourth transaction with Hulsing Hotels is a reflection of the trust they place in us and the results we consistently deliver together," said Rushi Shah, Chairman and CEO of Mag Mile Capital. "This deal required us to tell a compelling story to the capital markets — one centered on a best-in-class sponsor who had already put their money where their mouth is with a $6 million brand conversion. When a sponsor makes that kind of commitment to an asset, lenders take notice, and that conviction carried the day."
The transaction further underscores Mag Mile Capital's ability to source and execute institutional-quality capital solutions for hospitality assets nationwide, including complex ownership restructurings and long-term permanent financing.
AveragePenny
2月前
$MMCP Mag Mile Capital (MMCP) Reports 98% Revenue Growth for Full Year 2025
https://www.newsfilecorp.com/release/292688/Mag-Mile-Capital-MMCP-Reports-98-Revenue-Growth-for-Full-Year-2025
Chicago, Illinois--(Newsfile Corp. - April 15, 2026) - Mag Mile Capital, Inc. (OTCQB: MMCP), a leading national commercial real estate mortgage banking firm, yesterday announced its financial results for the full year ended December 31, 2025, highlighted by strong revenue growth and improved operating performance.
2025 Financial Highlights
Total Revenue: $4.06 million, up 98% year-over-year
Gross Margin: $1.38 million, up 110% year-over-year
Net Loss: $(123,755), improved from $(283,346) in 2024
Cash from Operations: $513,293, a significant improvement from prior year usage
Cash Balance: $513,777 at year-end
Management Commentary
"We are proud to deliver nearly 100% revenue growth in 2025, driven by increased deal flow, expansion into CMBS originations, and deeper relationships with institutional capital partners," said Rushi Shah, Chairman and CEO. "We saw increased transaction activity across our platform in 2025, particularly in larger and more complex financings, which contributed to both revenue growth and margin expansion."
"Our ability to grow gross margin faster than revenue reflects improved deal mix, optimized commission structures, and increasing productivity across our origination platform. Importantly, we significantly reduced our net loss while generating strong positive operating cash flow—an important milestone as we scale."
Business Performance & Growth Drivers
Mag Mile Capital's performance in 2025 was driven by:
Large Transaction Closures: Including a $59 million refinance and a $14.5 million financing with a major hotel sponsor, generating over $1.0 million in revenue
Expansion in CMBS Originations: Driving higher deal volume and fee generation
Strategic Marketing Initiatives: Including a high-impact investor and client event that directly contributed to closed transactions
Improved Unit Economics: Revenue growth outpacing commission expense growth
Operational Efficiency & Margin Expansion
Commission expense increased 88%, below revenue growth of 98%
Gross margin increased 110%, reflecting:
More favorable deal structures
Higher contribution from top-performing originators
Reduced commission overrides
Path Toward Profitability
Mag Mile Capital made meaningful progress toward profitability in 2025:
Net loss improved by 56% year-over-year
Positive operating cash flow of over $500K
Continued investment in:
Talent acquisition
Marketing and brand positioning
AI based Technology platform (CapLogiq)
Liquidity & Balance Sheet
Cash increased to $513,777
Working capital deficit of $144,294, with continued focus on strengthening liquidity
No cash used in investing or financing activities during the year
Strategic Outlook
The Company remains focused on:
Scaling its national origination platform
Expanding relationships with institutional lenders and capital providers
Leveraging its proprietary CapLogiq platform to drive efficiency using newest AI technology
Pursuing strategic acquisitions and talent recruitment
"We believe we are still in the early innings of our growth trajectory," added Shah. "With strong momentum, an expanding pipeline, strong mergers and acquisitions pipeline, and increasing brand recognition, we believe we are well-positioned to continue scaling revenue while moving toward sustainable profitability."
AveragePenny
3月前
$MMCP Mag Mile Capital (MMCP) Secures $24M Construction Financing for 87-Unit Cleveland Multifamily Project
https://www.newsfilecorp.com/release/288956
Cleveland, Ohio--(Newsfile Corp. - March 18, 2026) - Mag Mile Capital, Inc. (OTCQB: MMCP), a nationwide commercial real estate mortgage banking and capital markets firm, announced it has successfully arranged $24 million in construction financing for an 87-unit multifamily development located within the Belle Oaks Marketplace mixed-use project in Richmond Heights, Ohio, part of the greater Cleveland metropolitan area.
The construction loan was arranged on behalf of DealPoint Merrill, a fully integrated real estate investment and development firm, and will support development of the 128,000-square-foot residential component within the mixed-use community project.
The financing was provided by a private credit debt fund, reflecting the increasing role of alternative lenders and private credit funds in commercial real estate (CRE) development financing as traditional banks remain more selective in underwriting new construction loans.
Loan proceeds will fund construction of the 87-unit multifamily residential property, with the financing structured at 80% loan-to-cost leverage and priced at a floating rate of 600 basis points over the 1-month SOFR benchmark.
Private Credit Expands Role in U.S. Construction Lending
Industry analysts note that private credit and debt funds are playing an increasingly important role in commercial real estate financing, particularly in multifamily housing development, where long-term housing supply shortages and sustained rental demand continue to drive investment activity across many U.S. markets.
Mag Mile Capital Senior Vice President and Head of Originations Matt Weilgus, who originated the transaction, said the financing demonstrates the firm's ability to match development projects with the right capital partner in today's evolving lending environment.
"The closing of this construction financing illustrates how we add value for every deal, every client, and every capital source in a unique way," Weilgus said. "We are optimistic that this will be the first of many transactions with both the developer and capital provider. The lender made every effort to understand the sponsor's long-term vision for Belle Oaks Marketplace, which is expected to become a key mixed-use community hub in the Cleveland area."
Mixed-Use Development Anchors Growing Cleveland Submarket
The Belle Oaks Marketplace project represents a broader mixed-use real estate development strategy combining residential and commercial components designed to serve growing suburban communities in the Cleveland metro region.
DealPoint Merrill CEO David Frank said the financing represents an important milestone for the project's development timeline.
"We are grateful to Matt Weilgus and the Mag Mile Capital team for delivering a premier construction financing execution to our team at DealPoint Merrill," Frank said. "This financing will play a significant role in bringing our vision for Belle Oaks Marketplace to fruition and delivering new housing and community amenities for residents of Richmond Heights."
Multifamily Development Continues to Attract Capital
Market participants say multifamily housing development remains one of the most actively financed commercial real estate sectors, supported by long-term demographic trends, housing supply constraints, and strong rental demand in many U.S. cities.
"In today's lending environment, successful construction financing requires strong sponsorship, disciplined leverage, and the ability to match a project with the right capital partner," said Rushi Shah, CEO of Mag Mile Capital. "Debt funds have become one of the most active sources of development capital, providing flexible financing structures and competitive execution for experienced sponsors pursuing high-quality multifamily projects."
Mag Mile Capital structured the loan to align with the project's development timeline while providing flexible institutional capital for construction, enabling the sponsor to move forward with the next phase of development.
The transaction highlights Mag Mile Capital's continued expansion in multifamily construction financing and commercial real estate capital markets advisory, leveraging relationships with banks, private credit funds, institutional lenders, and alternative capital providers to deliver tailored financing solutions for developers and real estate investors nationwide.
AveragePenny
3月前
$MMCP Mag Mile Capital (MMCP) Closes Record $223.5M Bridge Loan for 636-Unit Fort Lauderdale Multifamily and Retail Development
https://www.newsfilecorp.com/release/287842/Mag-Mile-Capital-MMCP-Closes-Record-223.5M-Bridge-Loan-for-636Unit-Fort-Lauderdale-Multifamily-and-Retail-Development
Fort Lauderdale, Florida--(Newsfile Corp. - March 10, 2026) - Mag Mile Capital, Inc. (OTCQB: MMCP), a commercial real estate capital markets and mortgage banking firm, announced the successful closing of a $223.5 million bridge loan for a major mixed-use multifamily and retail development in Fort Lauderdale, Florida, marking the largest single financing transaction in the company's history.
The financing involves a 636-unit mixed-use property featuring multifamily residences and 10 commercial retail suites, a transaction that underscores the firm's growing ability to structure large institutional financings as commercial real estate (CRE) lending activity accelerates nationwide. The milestone deal further highlights Mag Mile Capital's expanding presence in the U.S. commercial real estate capital markets.
The financing was completed in less than 30 days, highlighting Mag Mile Capital's ability to structure and execute large-scale commercial real estate financing transactions for institutional-quality assets across the United States.
The Fort Lauderdale mixed-use property consists of 636 luxury apartment units and 10 commercial retail suites, positioning the asset within one of the fastest-growing multifamily housing and mixed-use real estate markets in South Florida.
The loan was arranged on behalf of a New York-based debt fund that structured the financing with the project's developer and sponsor. Proceeds from the $223.5 million bridge loan were used to retire the initial construction loan, fund interest reserves, and cover closing costs, while positioning the property for continued stabilization and long-term performance.
Strategic Bridge Financing for High-Growth Market
The financing structure includes floating-rate bridge loan terms with leverage at 76% loan-to-cost and 75% loan-to-stabilized value, providing flexibility for the sponsor as leasing activity continues across the residential and commercial components of the property.
The transaction carries a three-year term with two one-year extension options, priced at a floating rate of 1-month SOFR plus 3.15%.
Mag Mile Capital Senior Vice President and Head of Originations Matt Weilgus led the transaction, working closely with the firm's institutional lending partners to secure senior financing aligned with the sponsor's capital strategy.
"Mag Mile Capital was proud to help source the senior capital provider for this project," said Matt Weilgus. "We quickly identified the right lending partner and worked closely with all parties to ensure an efficient execution within a very compressed timeline."
Largest Deal Highlights Growing CRE Capital Markets Platform
According to Mag Mile Capital Principal Rushi Shah, the transaction represents a significant milestone for the firm and reflects its expanding role within the commercial real estate financing and structured debt markets.
"This marks the largest single deal transaction in Mag Mile Capital's history," Shah said. "Our team leveraged long-standing institutional relationships to identify the right capital provider and deliver a fast execution for a high-quality asset and experienced sponsor."
Fort Lauderdale CRE Market Continues to Attract Institutional Capital
The transaction comes as South Florida's multifamily and mixed-use real estate sector continues to attract strong investor interest driven by population growth, migration trends, and expanding employment markets across the region.
Developments combining multifamily housing and retail components have become increasingly attractive investment targets as developers seek to create walkable urban environments that support residential demand and local commercial activity.
Mag Mile Capital's involvement in the transaction underscores the firm's growing reputation for structuring complex bridge loans and institutional debt solutions for large commercial real estate projects nationwide.
Transaction Snapshot
Asset: Mixed-Use Multifamily and Retail Property
Location: Fort Lauderdale, Florida
Residential Units: 636 Apartments
Commercial Space: 10 Retail Suites
Financing: $223,500,000 Senior Bridge Loan
Leverage: 76% Loan-to-Cost / 75% Loan-to-Stabilized Value
Loan Term: 3 Years with Two 1-Year Extension Options
Interest Rate: 1-Month SOFR + 3.15%
Originator: Matt Weilgus
AveragePenny
3月前
$MMCP 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
https://www.newsfilecorp.com/release/285888/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
Chicago, 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.
The 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.
These 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 performance analyses, quality assurance reviews, performance improvement plans, portfolio insurance considerations, and consolidated cash flow structuring under a single master loan facility.
"These closings once again demonstrate our team's ability to navigate large, multi-asset financing efficiently and strategically," said Rushi Shah, CEO of Mag Mile Capital. "We were able to leverage our deep institutional lending relationships and structuring expertise to secure competitive terms while delivering certainty of execution. Our client now benefits from improved cash flow, reduced interest expense, and long-term capital stability in the form of non-recourse debt as well as capital for future improvement projects designed to increase performance and value."
The $90 million refinancing was structured to maximize proceeds and optimize flexibility. Key features of the loan include:
Five-year term
Two years Interest-only payments during the initial term and amortizing thereafter
Competitive fixed rate for five years in the low-7% range
Non-recourse structure
62.5% average loan to value
Springing cash management provisions
Cash-out in addition to capital expenditures reserves
Proceeds from the refinancing were used to retire higher-cost debt and return capital to the sponsor for potential acquisitions, while preserving liquidity for future property improvements. The portfolio demonstrated strong trailing twelve-month performance, enabling favorable underwriting across all assets despite varying market dynamics in different states.
The transaction closed within a highly efficient timeline of less than 60 days from start to finish, reflecting seamless collaboration between the sponsor, lender, brand representatives, lawyers, and Mag Mile's capital markets team.
"This is structured finance at its finest. Our client executed their business plan exceptionally well, positioning the portfolio for an optimal refinancing outcome," Shah added. "This was a lifecycle refinance that strengthens their balance sheet and prepares them for continued expansion."
"Our team, sponsor's team, lender's team, two law firms that represented the sponsors, and the lawyers that represented the lender worked many late nights to get this transaction through the finish line," said Prabhat Jayara, who assisted in closing this transaction along with Mag Mile's analyst Kaivan Shah. "This type of white glove service for our clients is what differentiates Mag Mile Capital from the competition, we get in the weeds of these transactions and actively help close them instead of watching from the sidelines."
"This closing brings our total deals closed with Mag Mile Capital to a grand total of $163.5 Million in three months," said Hari Bhagat, CEO of HKB Investment Group. "This is no small feat for our asset ownership and management business. This opens capacity for local, regional, and community lenders and allows us to scale our operations to the next level," said Prem Patel, COO of HKB Investments Group.
"Transactions of this scale require more than simply placing debt," said Patel. "They demand strategic consulting, structuring knowhow, coordination, deep relationships, and strong execution across all parties involved. We appreciate the collaboration of Mag Mile Capital's team, our legal partners – Joe Hoffman at RHPH and Sarah Gulati at Gulati Law, and the entire HKB team, whose commitment and experience were critical in bringing this transaction across the finish line in a timely manner." Patel highlighted.
AveragePenny
10月前
$MMCP Mag Mile Capital Arranges $15.9 Million in Financing for Hampton Inn El Paso, Texas Acquisition
https://www.globenewswire.com/news-release/2025/08/13/3132656/0/en/Mag-Mile-Capital-Arranges-15-9-Million-in-Financing-for-Hampton-Inn-El-Paso-Texas-Acquisition.html
Chicago, Illinois, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Mag Mile Capital is pleased to announce the successful arrangement of $15.9 million in total financing for the acquisition of the Hampton Inn El Paso, located at 6635 Gateway Blvd W, El Paso, Texas. The transaction was arranged on behalf of Nexgen Management, a Dallas-based hotel ownership and management firm with extensive expertise in the Texas border market.
The financing package consisted of a $13.9 million senior CMBS loan and a $2 million mezzanine loan, representing over 80% loan-to-purchase price leverage. The five-year, fixed-rate structure provides the Sponsor with long-term stability while maximizing proceeds.
This transaction was originated by Michael Taylor, Vice President of Originations, and Prabhat Jayara, Vice President of Originations, at Mag Mile Capital.
“Finding a small mezzanine piece that is willing go behind a CMBS loan in today’s market is challenging, but we were able to deliver competitive terms that met the Sponsor’s needs,” said Michael Taylor. “The combination of senior CMBS and mezzanine debt allowed Nexgen Management to achieve high leverage for this acquisition. This is a clear differentiator in this market.”
Prabhat Jayara added: “The Texas border market presents unique opportunities, and our client’s experience in operating hotels in this environment made them a strong fit for this transaction. We’re proud to have executed a structure that maximized leverage while maintaining favorable terms for our repeat client.
Rushi Shah, CEO of Mag Mile Capital, commented: “This deal demonstrates our ability to source and structure capital creatively, even in segments of the market where availability is limited. By pairing CMBS with mezzanine financing, we delivered a high-leverage solution that positions Nexgen Management for success in their latest acquisition. We take pride in our ability to execute consistently for commercial real estate owners as this marks our 4th deal closing for our repeat client, crossing $75 Million in closed deals with the same client.”
Transaction Snapshot
Deal: Hampton Inn El Paso Acquisition
Location: 6635 Gateway Blvd W, El Paso, Texas 79925
Asset Type: Hotel
Financing Type: Senior CMBS Loan + Mezzanine Loan
Total Financing: $15,900,000
Senior Loan: $13,900,000
Mezzanine Loan: $2,000,000
Total Leverage: 80%+ Loan-to-Purchase Price
Term: 5 Years
Rate Type: Fixed Rate
Sponsor: Nexgen Management (Dallas, TX)
Originators: Michael Taylor, Prabhat Jayara
Unique Aspects: Small mezzanine loan availability; border-market expertise
AveragePenny
12月前
$MMCP Mag Mile Capital Secures $10.25 Million in Joint Venture Equity for Chicago Office-to-Multifamily Conversion Project
https://www.globenewswire.com/news-release/2025/06/16/3099989/0/en/Mag-Mile-Capital-Secures-10-25-Million-in-Joint-Venture-Equity-for-Chicago-Office-to-Multifamily-Conversion-Project.html
Chicago, Illinois, June 16, 2025 (GLOBE NEWSWIRE) -- Mag Mile Capital, Inc. (OTCQB: MMCP) ("Mag Mile", or the "Company") is pleased to announce the successful arrangement of $10.25 million in joint venture equity on behalf of the development team executing an innovative Class A office-to-multifamily conversion project at 111 W. Illinois in the River North neighborhood of Chicago, IL.
The joint venture equity was arranged on behalf of the development team and secured from an institutional limited partner based in Chicago. The equity portion of the transaction closed in late May 2025. Mag Mile was engaged by the development partners to secure an institutional equity partner who would quickly understand the uniqueness of this conversion opportunity and align with the vision of the partners.
Matt Weilgus, SVP and Head of Originations of Mag Mile spearheaded the transaction. This strategic capital enables the newly formed joint venture to acquire the property and fund a portion of the construction costs required to convert a former Class A office component of the building to 153 Class A multifamily rental apartments.
“This transaction is noteworthy as it is one of the largest projects in Chicago to be executed in the post-Covid wave of office-to-residential conversions. Sponsorship engaged us on a tight timeframe to solidify the capital stack. We successfully and efficiently executed on the mandate by delivering a seasoned institutional capital partner with local market expertise to add value to the team beyond simply writing a check,” said Weilgus.
Rushi Shah, Chairman and CEO commented on the closing: “This was an exciting closing for Mag Mile Capital as this deal exemplifies the importance of longstanding relationships with both owner-developer clients and institutional equity capital partners. Mag Mile prides itself on its ability to solve all commercial real estate capital needs throughout the capital stack on behalf of its clients. This transaction involving a trophy project in our home market we are headquartered is a great source of pride internally and to be shared with our client and capital partner. We look forward to seeing this exciting project to fruition and continuing to deliver value to our clients nationwide.”
Mag Mile Capital remains committed to delivering tailored financing and equity solutions across all commercial real estate sectors nationwide, leveraging its extensive network with capital source relationships and innovative structuring capabilities.
Deal: 111 W. Illinois, Chicago, IL – Office-to-Multifamily Conversion
Location: River North, Chicago, IL
Capital type: JV Equity
Loan Amount: $10,250,000
Closing Date: 05/30/2025
Originator: Matt Weilgus
AveragePenny
1年前
$MMCP Mag Mile Capital Secures $9.75 Million CMBS Financing for Holiday Inn Indianapolis Airport
https://www.globenewswire.com/news-release/2025/06/11/3097633/0/en/Mag-Mile-Capital-Secures-9-75-Million-CMBS-Financing-for-Holiday-Inn-Indianapolis-Airport.html
Chicago, Illinois, June 11, 2025 (GLOBE NEWSWIRE) -- Mag Mile Capital, Inc. (OTCQB: MMCP) ("Mag Mile", or the "Company") is pleased to announce the successful closing of $9.75 million in cash out CMBS financing for the Holiday Inn at Indianapolis Airport, a premium hotel located in Indianapolis, Indiana.
The financing was structured with a 60% loan-to-value (LTV) ratio, a 5-year loan term, and a 30-year amortization schedule. The limited-recourse loan closed in May 2025. The CMBS loan was funded by a large New York based non-bank lender that is one of Mag Mile Capital’s premier relationships in the capital markets.
Rushi Shah, Chairman and CEO of Mag Mile spearheaded the transaction along with support from Prabhat Jayara, Senior Vice President of Originations. This strategic financing enhances the property's long-term financial stability, enabling ownership to maximize cash flow and uphold operational excellence in the expanding Indianapolis market.
“This deal was noteworthy as we were able to return capital to the sponsor after the deep value that they had added to the asset. Prabhat Jayara said. “We also were able to reward the Sponsor for improving the asset's quality and cash flow by providing a cash out in addition to the funds provided to add a Bar Louis restaurant in the lobby” says Prabhat.
Rushi Shah, Chairman and CEO commented on the closing: “This was an exciting closing for Mag Mile Capital as this deal exemplifies the importance of longstanding relationships with the commercial real estate owner-clients that turn into repeat business for Mag Mile’s franchise. This is a perfect example of how to effectively use capital markets to recycle capital for growth. Our clients here purchased a Ramada Inn by Wyndham and converted to Holiday Inn by Intercontinental Hotel Group, seasoned the asset, and then put a permanent loan while recycling the capital for further growth. We value repeat clients and repeat business as it shows our commitment to client success and the value of loyalty amongst our clients.”
Mag Mile Capital remains committed to delivering tailored financing solutions across all commercial real estate sectors, leveraging its extensive rolodex with real lender relationships and innovative structuring capabilities.
Deal: Holiday Inn by IHG at Indianapolis, Indiana
Location: Indianapolis, Indiana
Financing type: CMBS
Loan Amount: $9,750,000
LTV: 60%
Loan Term: 5 Years
Amortization: 30 Years amortization
Recourse: Limited Recourse
Closing Date: 05/20/2025
Originator: Rushi Shah and Prabhat Jayara
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