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New York & Tri-State  + Long Island  + Finance  | 

iBorrow Loan Supports Acquisition of Wainscott Inn in Eastern LI 

iBorrow has provided financing to a well-known boutique hotel/inn owner and operator to support the acquisition and renovation of Wainscott Inn, a 30-room boutique inn situated on the east end of Long Island in Sagaponack, NY. The $3.3-million financing assists the borrower in adding the property to its portfolio and will serve as a bridge loan as the sponsor pursues construction permits and city approvals. 

The financing occurs as travel is ramping back up post-pandemic and hospitality-sector fundamentals improve, said Brian Good, CEO of iBorrow. 

“As people return to traveling, the hospitality sector is benefitting from the rebound of the effects of the pandemic,” he said. “In Q4 2021, hotel occupancies had risen to 63.2% across the nation from 48.9% one year prior. As a result, hotel investors are increasingly placing capital in assets like Wainscott Inn, which is located at a convenient destination for both business and leisure stays.” 


Inside The Story


About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing