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 ...