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Credit Hedge Fund Kawa Capital In $16mn Hotel Loan

Credit investment manager Kawa Capital Management wrote a $16 million loan to affiliates of Byrd Enterprises of Arizona, an established owner and operator of a portfolio of hotels in the southwest United States. Kawa’s loan to the Byrd Enterprises affiliates was secured by a first mortgage on the leasehold improvements of four of Byrd’s hotel properties in Arizona (Holiday Inn, Hampton Inn, Red Lion, and Residence Inn) and a first mortgage on the fee simple interest of a Holiday Inn Express in Utah. The loan will refinance a currently outstanding commercial mortgage-backed securities loan and provide the borrower with additional financial flexibility...