Close

Cart

Total $0.00

Checkout

Firm secures attractive financing terms on 10-year mortgage

Bonita Springs and Palm Beach, Fla. – (Feb. 8, 2016) — Hospitality Funding, a Palm Beach-based boutique financial advisory firm, has facilitated a 10-year, $6.175 million loan for the owner of the La Quinta Inn & Suites Bonita Springs/Naples North in Bonita Springs, Fla.

The fixed-rate loan is secured by the 87-room hotel at 28600 Trails Edge Road. An affiliate of Waramaug Hospitality is the owner of the hotel. Waramaug is a privately held investment group that focuses on acquiring legacy branded assets throughout the United States.

Hospitality Funding Chairman Scott Silver and President Steven Fischler handled the La Quinta transaction on behalf of the firm.

“While the markets have been changing over the last few months, Hospitality Funding was still able to executive an attractive 70 percent, 10-year financing for our client,” Silver said.

Hospitality Funding focuses on premium select service, full-service and development transactions, with a particular expertise in value-added opportunities. In January, Hospitality Funding formed a strategic alliance with leading global hotel management company Interstate Hotels & Resorts. The companies have worked together on various debt and equity sources since 2010, and as part of the strategic alliance Hospitality Funding is assisting Interstate’s clients with their capital market needs for hotel projects.

The four-story La Quinta property underwent a comprehensive renovation in 2012. It ranks in the top 2 percent nationally in the La Quinta System and enjoys a top ranking in the local market by TripAdvisor. The property is located five miles from the Gulf of Mexico beaches and plentiful shopping.

About Hospitality Funding

Hospitality Funding is a boutique financial advisory firm focused on raising equity, mezzanine, and debt financing for the acquisition of all types of hospitality assets. We work with superior owners and investors to find capital solutions that fit their specific goals for property acquisitions, refinancing, and development. For more information, please visit http://www.hospitalityfunding.com.

Contact: Scott Silver

silver@hospitalityfunding.com / 561-877-8122

Related News

Avison Young Hospitality Group First Quarter Review

Maxim Hotel Brokerage Announces Several California, Nevada, Arizona and Portfolio Hotel Closings

Australia Gives Go Ahead for AccorHotels Acquisition of Mantra Group

Hotel Transactions in India: What Will Move the Needle?

Hotel Sales Volume Declines, Average Price Per Room Increases Moderately

Authenticity Confronts Branding: Non-Branded Hotel Properties Offer Great Opportunity to Those Who Understand the Market

RLH Corporation Executes Five Hotel Purchase and Sale Agreements

Avison Young Hospitality Group Has Another Strong Year in 2017

Rockbridge, in a Joint Venture with Musselman Hotels Management, Acquires Kentucky's Seelbach Hilton Hotel

Sonnenblick-Eichner Company Arranges $16,750,000 of First Mortgage Acquisition Financing for the Normandy Hotel, Washington, D.C.

Avison Young Hospitality Group Announces Closings

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

Paramount Lodging Advisors Sells 12th Consecutive Property in the Indiana Market

Hospitality Funding Advises Cambria Hotels Expansion in Sonoma County, California

Avison Young Hospitality Group Announces July Closings

Hospitality Funding Advises Newark Hotel Acquisition

Hospitality Funding Advises Cambria Hotels Expansion in Napa, California

Sale of Sheraton Metairie - New Orleans Hotel Facilitated by The Plasencia Group

Avison Young Hospitality Group Announces Recent Closings

Avison Young Hospitality Group Announces Recent Closings

All News »

Please login or register to post a comment.