hotel financing

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hotel financing

Spirides Arranges $8.7 Million Hotel Development Loan for New Holiday Inn in Downtown Columbia, SC

Spirides Hospitality Finance Company | January 9, 2019

TAMPA, FL—Spirides Hospitality Finance Company has successfully arranged, and its client has closed an $8.7 million building conversion and term, first priority conventional loan from a Southeast U.S. headquartered bank to finance the development of a new Holiday Inn in Downtown Columbia, South Carolina. This new 90 guest room, 10-story, full-service Holiday Inn is being developed by converting an existing 1950s era office building into a unique, first class hotel. The building is located at 1233 Washington Street in the heart of Downtown Columbia, Richland County, SC. Hotel amenities will include the Holiday Inn Gen 4 design pack...

Spirides Arranges $2.33 Million Hotel Debt Refinancing for Hampton Inn Laurinburg, NC

Spirides Hospitality Finance Company, LLC | September 4, 2018

TAMPA, FL—Spirides Hospitality Finance Company has successfully arranged, and its client has closed on a $2.33 million debt refinancing with a permanent loan from a southeast U.S. headquartered lender to refinance existing debt for the Hampton Inn by Hilton in Laurinburg, North Carolina. Hampton Inn Laurinburg, NC features 50 guest rooms with an interior corridor in one 3-story building and is situated on 6 acres of land. The hotel is located just off of Interstate 74 at 115 Hampton Circle, Laurinburg, Scotland County, North Carolina. It is located one mile from St. Andrews College and is near the Scottish Heritage Center. Scottis...

Sonnenblick-Eichner Company Arranges $50,000,000 of First Mortgage Financing for Hotel Theodore, Seattle, Washington on Behalf of Provenance Hotels

Sonnenblick-Eichner Company | July 25, 2018

Beverly Hills, CA (July 25, 2018) – Sonnenblick-Eichner Company announced today that it has arranged $50,000,000 of interim first mortgage financing to refinance Hotel Theodore, a 20-story, 153-room, full-service, luxury boutique hotel located at the corner of 7th Avenue and Pine Street, in the heart of downtown Seattle, Washington, one block west of the Washington State Convention Center. The floating rate loan was sized to a debt yield of less than 6% and priced over LIBOR at a spread in the mid-300s. Loan proceeds are being used to refinance the existing acquisition and renovation loan as well as provide a return of equity to the borr...

Spirides Arranges $5 Million Hotel Construction Loan for New Holiday Inn Express in Latta, SC

Spirides Hospitality Finance Company, LLC | July 4, 2018

TAMPA, FL—Spirides Hospitality Finance Company has successfully arranged, and its client has closed on a $5 million senior loan facility from a southeast U.S. headquartered bank to finance the development of a new Holiday Inn Express in Latta, South Carolina. This soon to be built Holiday Inn Express will feature 68 guest rooms and suites in one 4-story building situated on 4 acres of land. It will be located at 1325 Cattle Farm Road at SC Highway 38 just off of Interstate 95 Exit 181 near the City of Latta in Dillon County, SC which is part of the Florence metropolitan area. Exit 181 is one of the primary exits off of Interstate ...

Aztec Group Arranges $42 Million Construction Financing for Concord Hospitality’s Marriott Autograph Collection Hotel in West Palm Beach, FL

Aztec Group | May 31, 2018

Miami – May 31, 2018 – Aztec Group announced today that the firm has arranged $42 million in financing for the development of a new luxury Marriott Autograph Collection Hotel along the Intercoastal in downtown West Palm Beach, Fla. Boaz Ashbel, Managing Director of Aztec Group, organized the financing through Florida Community Bank, N.A. ("FCB") on behalf of the hotel's owner and operator, Concord Hospitality Enterprises Company. The hotel will offer 208 guestrooms, a full-service restaurant, state-of-the-art fitness center, more than 4,000 square feet of meeting space, surface structured parking and a rooftop swimming pool ...

Sonnenblick-Eichner Company Arranges $110,000,000 of First Mortgage Financing for InterContinental San Francisco

Sonnenblick-Eichner Company | January 10, 2018

Beverly Hills, California – January 10, 2018 – Sonnenblick-Eichner Company announced today that it has arranged $110 million of first mortgage financing to refinance the InterContinental San Francisco, a 32-story, 550-room hotel located adjacent to San Francisco's Moscone Convention Center in the South of Market district (SOMA) of downtown San Francisco, California. The Four-Diamond, AAA-rated hotel includes 43,000 square feet of meeting, banquet and pre-function space; Luce, a Michelin rated restaurant; a 10,000 square-foot spa and subterranean parking accommodating 180 valet spaces. The interest rate for this 10-year, non-...

Public Involvement in Convention Center Hotel Financing

Thomas A Hazinski | October 24, 2017

By Thomas A Hazinski, Brian Harris Research generously supported by the Greater Phoenix Convention and Visitors Bureau Public sector involvement in convention center hotel projects is common due to the high cost of development and lack of private capital for such investments. Event planners expect the presence of a hotel adjacent to a convention center. Consequently, proximate hotels are essential for many convention centers to remain competitive in the convention center industry. As most communities desire the economic impact of group events and the spending of the visitors they attract, many are providing public subsidies to projects...

Hospitality Funding, Inc. Arranged Funding for the Acquisition of the Comfort Suites Arlington, Texas

Hospitality Funding | October 23, 2017

Arlington, Texas – Hospitality Funding, Inc. arranged funding for the acquisition of the Comfort Suites Arlington, Texas. Waramaug LS Hotels LLC acquired the hotel in a joint venture with high net worth investors. When assessing the deal, Hospitality Funding and Waramaug Hospitality considered the following: The property is located near Six Flags Theme and Water Park, Rangers Ballpark, AT&T Stadium, Arlington Convention Center and more The property is a 108-room, all-suite hotel with high ceilings throughout that opened in 2009 The hotel's amenities include complimentary breakfast, a swimming pool, a fitness center, a busi...

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