ORLANDO, FL—Meridian Capital Group has arranged $5.9 million in acquisition financing for the purchase of a Comfort Inn here.
The five-year loan, provided by a balance-sheet lender, features a LIBOR-based floating rate with interest-only payments in the first year followed by a 25-year amortization schedule. The loan also provides the ability for the borrower to fix the rate at any time over the loan term.
The six-story, 112-key Comfort Inn is located at 8134 International Dr., directly across from the Ripley’s Believe it or Not museum.
Meridian Managing Director Noam Kaminetzky negotiated the transaction.