Largo Hospitality facilitates $19M DoubleTree loan
The loan financed the acquisition of a 242-room DoubleTree by Hilton in Orlando
April 09, 2016 04:00PM
DoubleTree by Hilton at 12125 High Tech Avenue in Orlando
Largo Hospitality Finance Group arranged a $19 million permanent first mortgage to finance the acquisition of a DoubleTree by Hilton hotel in Orlando.
John Svec, managing director of Largo Hospitality Finance, arranged a five-year loan with a 25-year amortization schedule secured by the hotel.
The 242-room hotel is located on a nine-acre lakefront site near the main campus of the University of Central Florida. The hotel has a full-service restaurant, a heated pool and more than 5,000 square feet of meeting space.
The hotel at 12125 High Tech Avenue has been renovated and recently was re-flagged as a DoubleTree by Hilton. TripAdvisor ranks it ninth among 334 hotels in Orlando.
Largo Hospitality Finance is a provider of long-term, fixed-rate non-recourse financing for commercial real estate in the United States and Canada.
Source: The Real Deal