Largo Finances $19 Million for Hotel Property in Orlando Florida
BUFFALO, NY – April 7, 2016 – John Svec, Managing Director of the Largo Hospitality Finance Group, secured a $19 million permanent first mortgage to finance the acquisition of the 242-room Hilton Doubletree Hotel located in Orlando, Florida. The hotel sits on a large 9-acre lakefront site near the University of Central Florida’s main campus, and features a full-service restaurant, outdoor heated pool and over 5,000 square feet of flexible meeting space. The renovated and recently re-flagged Doubletree continues to grow its market share with TripAdvisor now ranking it #9 of 334 hotels in all of Orlando. Svec arranged a 5-year loan with 25-year amortization and negotiated a very attractive rate for his client.
The Largo Group of Companies is a commercial mortgage banking firm that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo arranges innovative commercial real estate financing structures for borrowers throughout the United States and Canada. We manage the loan process from loan application through closing and service the loan throughout its term.
Largo has 17 correspondent relationships and offers additional lending sources, providing property owners and developers long-term, non-recourse commercial real estate financing at a competitive fixed rate.
For more information, please contact:
John Svec, Managing Director
Largo Hospitality Finance Group
716.204.2221 | [email protected]