Rumford Maine Best Western Hotel

  • BW-Rumford-Falls-Rendering-JPEG

Project Category: Substantial Improvement Property

  • Summary

    63 room Best Western Plus Inn and Suites Hotel in Rumford, Maine

  • Details
    Project Qualification: Substantial Improvement Property
    Real Estate: Hospitality
    Total Capital Required: $5,500,000
    Equity Required: $1,500,000
    Debt Required: $4,000,000
    Project Control: We own all the key property
    Timeline: 90-180 days
    File: BW-Rumford-Falls-REVISED-overview-presentation-20180725-1.pptx
    File: LWHA-PRO-Forma-With-Debt-Service-Lund.xlsx
    File: Projected-Sources-and-Uses-of-Funds-Lund.xlsx
     Address: 50 Prospect Ave Rumford Maine 04276 United States
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  • Project Narrative
    Project Narrative:

    This proposed 63 room hotel will be the only branded hotel located in the Rumford, Maine area. The nearest flag hotels are 25 miles or more away from the Opportunity Zone where this Best Western hotel will be located. Market studies, financial projections and project appraisals have been completed and all documents are available upon request. Environmental abatement of site and building demo is completed and site is ready for foundations and construction commencement. Pennacook Falls Investments, Ltd has also secured a 10 year tax increment financing from the Municipality and the State of Maine.