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| Holiday Inn Daytona Beach, 137 Automall Circle Daytona Beach, FL |
ORLANDO, FL – HFF announced today that it has arranged $5.4
million in financing for the Holiday Inn Daytona Beach, a 96-room hotel
in Daytona Beach, Florida.
Working on behalf of the borrower, Linchris Hotel
Corporation, HFF placed the 10-year, fixed-rate loan with MC-Five Mile. The securitized loan will also be serviced
by HFF.
The
Holiday Inn Daytona Beach is located at 137 Automall Circle, which is just off
Interstate 95 at LPGA Blvd.
Daytona
International Speedway and beach access are within a 15-minute drive, and the
two championship golf courses housed at LPGA International is less than five
minutes away.
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| Greg LaBine |
Opened in 2009, the hotel
has 2,300 square feet of meeting space, full restaurant and lounge, outdoor
pool and whirlpool, fitness room and business center. Guests enjoy amenities including flat-screen televisions,
refrigerators, microwaves and high-speed wired and wireless Internet.
The
HFF debt placement team representing the seller was led by managing director Greg
LaBine and director Michael Weinberg.
“Momentum from debt capital providers continues to grow for all major
product types in Florida,” Weinberg said.
“We are consistently amazed by the amount of liquidity, particularly the
rebound of interest in the hotel sector.”
“Linchris is a tremendous operator and has strong operating
margins on their existing Northeast-focused portfolio,” LaBine added. “Linchris is looking to take their
management talent to a new marketplace, and this asset is the first of many
they hope to acquire in the southeastern United States.”
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| Michael Weinberg |
HFF’s Hotel Group has been active in the sale and financing
of similar upscale hotels across the country.
In the last 24 months, the firm financed or sold more than $1 billion of
hospitality properties in Florida.
Headquartered in Hanover, Massachusetts, Linchris Hotel Corporation is a
hotel management company with an outstanding reputation for high-quality and
first-rate service. The company
controls 30 hotels with more than 3,400 rooms.
Find more information on Linchris Hotel Corporation at linchris.com.
MC-Five Mile provides fixed-rate permanent financing to
borrowers on commercial real estate assets across the United States and the
Caribbean. MC-Five Mile finances
various types of properties including office, retail, multifamily, student
housing, industrial, hotel and self storage.
The company is run by a highly-experienced management team with
expertise in all aspects of the commercial real estate industry, including
origination, credit, underwriting, structuring, capital markets and asset
management.
Headquartered in New York
City, MC-Five Mile was founded as a joint venture between Five Mile Capital
Partners LLC and MC Asset Management Holdings, LLC. Learn more at mcfivemile.com.
For a complete copy of the company’s news release, please
contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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