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| Noam Kaminetzky |
New York, NY, Sept. 14, 2016, – Meridian Capital Group,
America’s most active debt broker, arranged $5.9 million in acquisition
financing for the purchase of a Comfort Inn hotel located in Orlando, FL.
The five-year loan,
provided by a balance sheet lender, features a LIBOR-based floating rate with
interest-only payments in the first year followed by a 25-year amortization
schedule.
The loan also provides the ability for the
borrower to fix the rate at any time over the loan term. This transaction was
negotiated by Meridian Managing Director, Noam
Kaminetzky, who is based in the company’s Boca Raton, FL office.
Meridian
also recently financed a Best Western, which is situated diagonally across the
street from this hotel.
The six-story Comfort Inn
hotel is a 112-room, 59,725 square foot property, located at 8134 International
Drive in Orlando, FL.
The hotel is situated on a prime section of International
Drive and has become a gateway to many key attractions in central Florida. This
includes the Orange County Convention Center, SeaWorld and Universal Studios.
The hotel is located directly across the street from the Ripley Believe it or
Not museum.
“The acquisition of this
underperforming asset was a natural fit for the borrower,” explained Mr. Kaminetzky.
“The addition of this Comfort Inn to the client’s portfolio allowed him to
leverage his knowledge of the area and utilize his local operational resources
to gain economies of scale and improve performance.”
For a complete copy of the company’s news release,
please contact:
Jonathan Stern
Meridian Capital Group
212/972-3600
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