Committed to providing debt
solutions to hotel owners.

ICON Lodging Debt Fund (ILDF) is a Private Lender that provides mortgage solutions to hotel owners in Canada

With a focus on deals less than $10-million, ILDF is focussed on supporting small to medium sized hotel companies transition and improve their hotels.

Loan Products

Loan Product

Bridge Financing

PIP / Renovation Financing

Gap Financing

Loan Type

First Position Mortgage

Second Position Mortgage

Second Position Mortgage

Loan Purpose

Acquisition, brand conversion, ramp-up

Renovations for product improvement, brand conversion or completion of brand mandated PIP

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LTV

Up to 70% (total debt)

Up to 80% (total debt)

Up to 80% (total debt)

Term

6 months to 36 months

6 months to 24 months

6 months to 24 months

Amortization

Interest Only

Interest Only

Interest Only

DSCR

1.0x

1.0x

1.0x

Set-up Fee

2.00%

2.00%

2.00%

Interest Rate

Starting at Prime + 400bps

Start at Prime + 700bps

Start at Prime + 700bps

Recourse

Non-recourse available, Badboy carveouts required

Personal and/or corporate guarantees required

Personal and/or corporate guarantees required

Process

Present Discussion Paper of indicative terms

Complete Due Diligence

Secure Formal Approval

Documents ready for signatures

Loan Funded

Our Team

Salim Gulamani

Managing Director

Jason Wight

Managing Director

Phil Thompson

Director / Counsel

Contact Us

    ICON Lodging Debt Fund GP Inc.
    251 Consumers Rd., Suite 1200
    Toronto, ON M2J 4R3

    COPYRIGHT © 2023 ICON Lodging Debt Fund GP Inc.