Largo Finances $5.7 Million for Two Hotel Properties
BUFFALO, NY – NOVEMBER 12, 2015 – Lori Tirado, Managing Director of the Largo Hospitality Finance Group, secured $5.7 million in financing for a Country Inn & Suites located in Hebron, Kentucky and a Days Inn located in Forsyth, Georgia.
Tirado arranged a permanent first mortgage to refinance the existing debt on the 86-room Country Inn & Suites. The property is conveniently located within walking distance to the Cincinnati-Northern Kentucky Airport and is 12 miles southwest of the Cincinnati, Ohio Central Business District. Tirado secured a 15-year self-amortizing loan for the borrower with a fixed interest rate in the low 4% range.
Tirado also refinanced the existing debt on the 114-room Days Inn located in Forsyth, Georgia. The property is located directly off of the exit for Forsyth on Interstate 75, providing ideal visibility and accessibility for transient travelers. Tirado arranged a 20-year self amortizing permanent first mortgage for the hotel owner with a fixed interest rate in the low 4% range.
Both properties were financed through one of Largo’s correspondent life insurance companies.
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:
LORI TIRADO, MANAGING DIRECTOR
Largo Hospitality Finance Group
716.204.2223 | [email protected]