Mag Mile Capital Closes $10.3 Million Financing for Delta Hotels by Marriott in Bristol, Virginia on Behalf of Hulsing Hotels

Rhea-AI Summary

Mag Mile Capital (OTCQB: MMCP) closed a $10.3 million permanent, 10-year fixed-rate loan with 25-year amortization for the Delta Hotels by Marriott in Bristol, Virginia on behalf of sponsor Hulsing Hotels. The financing provided cash-out proceeds and enabled a partial partner buy-in and equity restructuring.

Hulsing had previously invested over $6 million to convert the property to a Delta Hotels by Marriott; this is Mag Mile's fourth closing with that sponsor.

Positive

• $10.3M permanent fixed-rate loan closed
• 10-year fixed-rate term with 25-year amortization
• Financing provided cash-out proceeds and enabled a partial partner buy-in
• Sponsor invested $6M+ to convert property to Delta Hotels by Marriott
• Fourth completed financing between Mag Mile and Hulsing Hotels

Negative

• None.

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In the Apr 27 session, MMCP gained 14.29%, reflecting a significant positive market reaction.

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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.

Delta Closing Tombstone

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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.

Transaction Snapshot:

Deal: Delta Hotels by Marriott - Bristol, Virginia

Asset Type: Full-Service Hospitality

Financing Type: Permanent Fixed-Rate Loan

Loan Purpose: Cash-Out Refinance / Partial Partner Buy-In

Loan Amount: $10.3 Million

Term: 10 Years

Amortization: 25 Years

Sponsor: Hulsing Hotels

Transaction Number with Sponsor: 4th Closing with Mag Mile Capital

About Mag Mile Capital

Mag Mile Capital is a nationwide commercial mortgage banking firm providing financing solutions across all major asset classes including multifamily, mixed-use, retail, office, industrial, and hospitality. The firm specializes in bridge, agency, CMBS, FHA/HUD, and structured finance executions, delivering customized capital strategies to sponsors and investors across the country.

For more information, please visit www.magmilecapital.com.

Media Inquiries Contacts:

Rushi Shah
CEO, Mag Mile Capital
Phone: (847) 722-9192
Email: rshah@magmilecapital.com
Website: www.magmilecapital.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/294352

FAQ

What did Mag Mile Capital announce about the Delta Hotels Bristol financing (MMCP) on April 27, 2026?

Mag Mile Capital announced a $10.3 million permanent, 10-year fixed-rate loan for the Delta Hotels Bristol. According to Mag Mile Capital, the financing included a 25-year amortization and provided cash-out proceeds plus a partial partner buy-in.

How does the $10.3 million loan for Delta Hotels Bristol affect Hulsing Hotels' ownership structure?

The financing facilitated a partial partner buy-in and an equity restructuring of the asset. According to Mag Mile Capital, the loan provided strategic cash-out proceeds to the ownership group to enable that restructuring.

What loan terms did Mag Mile Capital secure for the Delta Hotels by Marriott in Bristol, VA?

The loan is a 10-year fixed-rate permanent financing with a 25-year amortization schedule totaling $10.3 million. According to Mag Mile Capital, these institutional terms reflect lender underwriting for the asset.

What prior investment did Hulsing Hotels make before the April 27, 2026 financing (MMCP)?

Hulsing Hotels invested over $6 million to convert the property from a Holiday Inn to Delta Hotels by Marriott. According to Mag Mile Capital, that conversion elevated the property's market position and underwriting case.

Why is this transaction significant for Mag Mile Capital and Hulsing Hotels (MMCP)?

The closing marks the fourth financing Mag Mile has completed for Hulsing Hotels, reinforcing their relationship. According to Mag Mile Capital, repeated deals reflect sponsor conviction and execution capability in hospitality financing.