Done Deals: HFF arranges $18 million refinancing for Aloft hotel in downtown Orlando, FL

Sunday, May 26, 2019

HFF arranges $18 million refinancing for Aloft hotel in downtown Orlando, FL

Aloft Orlando Downtown, a 118-room, select-service, Aloft-branded hotel at 500 South Orange Avenue, in downtown Orlando, FL

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged an $18 million refinancing for Aloft Orlando Downtown, a 118-room, select-service, Aloft-branded hotel in downtown Orlando, Florida.

HFF worked on behalf of the borrower, GDC Properties, to place the five-year, non-recourse, floating-rate loan with a national bank. Loan proceeds will be used to retire existing debt as well as reinvest in the hotel.

Gregg Shapiro

GDC Properties acquired the historic Orlando Utilities Commission office building and converted it from an eight-story office building into the Aloft Orlando Downtown, which opened in late 2013.

The hotel, which has achieved LEED Gold certification, features the Re:Charge gym, Splash outdoor pool, lobby workstation, nearly 9,000 square feet of meeting space and two food and beverage offerings, including the WXYZ bar and Re:Fuel by Aloft grab-and-go food outlet.

Located at 500 South Orange Avenue, the hotel is across the street from the Dr. Phillips Center for Performing Arts and proximate to more than 10 million square feet of central business district office space.

Additionally, the hotel is within walking distance to some of Orlando’s most popular restaurants and night life along with a short drive or SunRail ride to popular Orlando destinations.

Michael Weinberg

The HFF debt placement team representing the owner was led by managing director Gregg Shapiro and senior managing director Michael Weinberg.

“The Aloft Orlando Hotel represents an exceptional example of adaptive reuse that has resulted in a high-performance property,” Shapiro said. “We are thankful for the opportunity to work on the refinancing and enable GDC Properties to extend their ownership period.”

HFF’s knowledge of and experience in selling and sourcing financing for downtown Orlando hotels is extensive and includes the Embassy Suites by Hilton Orlando Downtown, Grand Bohemian Hotel Orlando and Crowne Plaza Orlando-Downtown.

About GDC Properties

GDC Properties was founded in 1994 by Samuel Ginsburg to specialize in the development, management and acquisition of residential and commercial income properties.

Samuel Ginsburg

GDC Properties traces its roots to the founding of Ginsburg Development Corporation by Samuel and Martin Ginsburg in 1964. Today, GDC Properties owns and manages a diverse portfolio of retail, multifamily, mixed-use and hotel properties.

CONTACTS:

GREGG SHAPIRO

HFF Managing Director

(404) 942-2208