October 18, 2023 – Ben Blanton, Vice President, Originations at Largo Capital, Inc. secured a permanent first mortgage to refinance the existing debt on a Holiday Inn located in Orlando, Florida. The 68% LTV financing was secured through a regional lender. The 10-year term was structured with the first 5 years fixed followed by a rate reset prior to a second 5-year fixed-rate term. The new loan included cash out above the existing loan amount to reimburse a recently completed PIP that was funded out of pocket.
The property features 104 keys and offers amenities inclusive of a swimming pool, fitness center, business center, and a full breakfast buffet. In addition, the property offers excellent access to major highways as well as local amenities including Universal Studios, Amway Center, and the Orange County Convention Center.