HFF Arranges $5.4M for Holiday Inn Daytona Beach
Tuesday July 22nd, 2014 - 8:58AM SBE
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DAYTONA BEACH, FL—HFF arranged $5.4 million in financing for the 96-room Holiday Inn Daytona Beach here.
Working on behalf of the borrower, Linchris Hotel Corp., HFF placed the 10-year, fixed-rate loan with MC-Five Mile. The securitized loan also will be serviced by HFF.
The Holiday Inn Daytona Beach is located at 137 Automall Circle, which is off Interstate 95 at LPGA Blvd. Daytona International Speedway and beach access are within a 15-minute drive, and two championship golf courses housed at LPGA International are less than five minutes away.
Opened in 2009, the hotel has 2,300 sq. ft. of meeting space, full restaurant and lounge, outdoor pool and whirlpool, fitness room and business center. Guest amenities include flat-screen televisions, refrigerators, microwaves and high-speed wired and wireless Internet access.
The HFF debt-placement team representing the seller was led by Managing Director Greg LaBine and Director Michael Weinberg.
Tags: HFF • Daytona Beach • Holiday Inn • Hospitality • Brands • Acquisitions • Sources of Funding •
The theme of this year’s ALIS conference was “Don’t Worry, Be Happy.” But, lets face it, there are always going to be some people who aren’t happy unless they are worried about something—whether it’s the Fed potentially raising interest rates or that the price of oil is now too low, threatening to cripple the economies of some foreign nations.