hotel loans
Spirides Provides $14 Million Construction Financing for Major League Baseball Player Hotel in Dunedin, FL
Spirides Hotel Finance Company | November 22, 2022
TAMPA, FL—Spirides Hotel Finance Company has successfully provided, and the borrower has officially closed $14 million in construction-to-permanent mortgage financing from a Midwest U.S. headquartered bank to finance the development of a lodging facility in Dunedin, Florida for players of the Toronto Blue Jays Baseball Club, a Major League Baseball franchisee. Florida is well known for its multiple professional baseball Spring training facilities. After building in Dunedin their “second home,” a 65-acre, $100 million Player Development Complex training facility that includes a 115,000 square-foot multipurpose building, the Toronto B...
Spirides Provides $6.3 Million Debt Refinancing + Cash Out for Holiday Inn Express in Latta, SC
Spirides Hotel Finance Company | November 1, 2022
TAMPA, FL—Spirides Hotel Finance Company has successfully provided, and the borrower has officially closed a $6.3 million mortgage loan from a southeast U.S. headquartered bank to refinance the existing mortgage debt plus take $1.5 million cash out of the Holiday Inn Express in Latta, South Carolina. The $1.5 million cash taken out of the loan proceeds will be used by the borrower as an owner’s cash equity down payment to build another hotel in North Carolina where they already own the land. This Holiday Inn Express features 68 guest rooms and suites in one 4-story building situated on 4 acres of land. It is located at 2513 Cattle ...
A Hotel Debt Quagmire: Borrowers With Maturing Loans Have Increasingly Fewer Options
The Plasencia Group | August 26, 2022
By Dexter Wood New Debt Has Vanished New debt for hotel acquisitions has all but vanished, but a bigger problem may be the wave of existing debt facilities of all types that are scheduled to mature this year and next. Beginning at the start of 2022 and through the end of 2023, nearly 45,000 CMBS hotel loans totaling about $30 billion in value were set to mature as illustrated in the graph at right. Although the lodging industry has made great progress since the depths of the COVID-19 pandemic, the recovery has proven to be uneven, selective, and vulnerable to a plethora of external factors. ...
Spirides Provides $7 Million in Loans to Refinance Debt & Renovate Two Hotels in Sylva, NC
Spirides Hotel Finance Company | March 29, 2022
TAMPA, FLORIDA—Spirides Hotel Finance Company has successfully provided and the borrower has officially closed $7 million in loans to refinance the existing mortgage debt and fund renovations to the Holiday Inn Express and Clarion Pointe hotels in Sylva, North Carolina. The 67-room Holiday Inn Express Sylva, NC is located at 26 Rufus Robinson Road. Its ownership retained the services of Spirides Hotel Finance Company to provide them with a new conventional mortgage which has a much lower fixed rate of interest than that of their previous mortgage as well as additional funds to perform a comprehensive Holiday Inn Express “Formula Blue...
Spirides Provides $4.1 Million Loan to Refinance Debt of Best Western in San Angelo, Texas
Spirides Hospitality Finance Company | August 10, 2021
TAMPA, FLORIDA—Spirides Hospitality Finance Company has successfully provided and the borrower has officially closed a $4.1 million loan to refinance the existing mortgage debt of the Best Western SureStay in San Angelo, Texas. Also known as the Pearl on the Concho, this iconic 164-room hotel is located at 333 Rio Concho Drive in the heart of the downtown historic, cultural, commercial, and entertainment district of San Angelo, Tom Green County, Texas. The hotel is a full-service, midscale, family-centric hotel that was first built as one of the original Holiday Inn Holidomes which feature a very large indoor recreational atrium with s...
Spirides Provides $13.5 Million Hotel Construction Loan for New Comfort Suites in Lake Buena Vista-Orlando, FL
Spirides Hospitality Finance Company | January 11, 2021
TAMPA, FL—Spirides Hospitality Finance Company has successfully provided and the borrower has officially closed a $13.5 million construction and permanent mortgage loan made by a Southeast U.S. headquartered bank to finance the development of a new Comfort Suites in Lake Buena Vista, Orlando, Florida. This new 127-suite, 5-story Comfort Suites will be built on 2.5 acres of land located at 11942 Ravello Resort Drive. Located in Lake Buena Vista and just off of Interstate 4, the site is a short drive from the entrance to Walt Disney World’s Disney Springs shopping, dining, and entertainment complex near the City of Orlando, in Orange C...
Spirides Arranges $10 Million Hotel Construction Loan for New Holiday Inn Express in Lumberton, NC
Spirides Hospitality Finance Company | December 19, 2019
TAMPA, FL—Spirides Hospitality Finance Company has successfully arranged and the borrower has officially closed on a $10 million construction to permanent, first priority mortgage loan from a Southeast U.S. headquartered bank to finance the development of a new Holiday Inn Express in Lumberton, North Carolina. This new 95-guest room, 5-story Holiday Inn Express will be built on 2.2 acres of land located at 302 Wintergreen Drive near Interstate 95 Exit 22 in the City of Lumberton, Robeson County, North Carolina. Hotel amenities will include a breakfast dining area, a meeting room, an indoor swimming pool, an outdoor courtyard, a fitness c...
Spirides Arranges $8.7 Million Hotel Development Loan for New Holiday Inn in Downtown Columbia, SC
Spirides Hospitality Finance Company | January 9, 2019
TAMPA, FL—Spirides Hospitality Finance Company has successfully arranged, and its client has closed an $8.7 million building conversion and term, first priority conventional loan from a Southeast U.S. headquartered bank to finance the development of a new Holiday Inn in Downtown Columbia, South Carolina. This new 90 guest room, 10-story, full-service Holiday Inn is being developed by converting an existing 1950s era office building into a unique, first class hotel. The building is located at 1233 Washington Street in the heart of Downtown Columbia, Richland County, SC. Hotel amenities will include the Holiday Inn Gen 4 design package, in...
