What is the maturity date of the Denver Loan for Bw Premier Collection?
Bw_Premier_Collection Franchise · 2025 FDDAnswer from 2025 FDD Document
r 30, 2024
(17) Construction Loans
Denver 3560
In March 2020, Denver 3560 entered into an initial Construction Loan Agreement (the "Denver Loan") with UMB Bank, which allowed Denver 3560 to request advances up to $21.6 million. In July 2021, this Denver Loan was modified to increase the availability of loan advances from $21.6 million to $24.4 million. For the period May 1, 2020 through April 1, 2023, interest on the outstanding principal balance of the Denver Loan was due and payable monthly. Beginning April 1, 2023, through the maturity date of March 11, 2027, principal and interest are due and payable in an amount determined by UMB to be sufficient to amortize the outstanding principal balance of the Denver Loan over a twenty-five (25) year period. The outstanding principal balance of this
Source: Item 23 — Receipts (FDD pages 54–203)
What This Means (2025 FDD)
According to Bw Premier Collection's 2025 Franchise Disclosure Document, the Denver 3560 joint venture entered into an initial Construction Loan Agreement (the "Denver Loan") with UMB Bank in March 2020, which allowed Denver 3560 to request advances up to $21.6 million. This loan was modified in July 2021 to increase the availability of loan advances to $24.4 million.
Interest on the outstanding principal balance of the Denver Loan was due and payable monthly from May 1, 2020, through April 1, 2023. From April 1, 2023, through the maturity date of March 11, 2027, both principal and interest are due and payable in an amount determined by UMB to be sufficient to amortize the outstanding principal balance of the Denver Loan over a twenty-five (25) year period.
The outstanding principal balance of the Denver Loan is due and payable on its maturity date, which is March 11, 2027. As of November 30, 2024, the company had borrowed $24.4 million. The interest rate on the Denver Loan is a fixed annual rate of 3.21%, computed and accrued on an ACT/360 basis. The loan is secured by a Deed of Trust and guaranteed by the Company.