August 1, 2023 – Ben Blanton, VP of Originations at Largo Capital, Inc., arranged $14,000,000 in construction financing for a 103-key hotel located in Tampa, Florida. The 65% LTC financing was secured through a regional lender. The 5-year term was structured with the first 30 months interest only followed by a fixed rate for the remainder of the term. The lender did not require deposits.
With Tampa becoming one of the largest hubs in the country for corporate relocations and tourism, the property will likely see sustained demand due to its central location in one of the southeast’s fastest-growing markets.