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 •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.