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| Holiday Inn Orlando SW – Celebration Area, Florida |
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| Michael Weinberg |
ORLANDO, FL –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and secured acquisition
and renovation financing for Holiday Inn
Orlando SW – Celebration Area, a 444-room, limited-service hotel near the
grounds of Walt Disney World Resort in Orlando, Florida.
HFF marketed the property
on behalf of the seller, Eastgate Hospitality Investors, LLC, for which HFF
secured financing for the property in 2012.
Palm Holdings purchased the asset free and clear of debt and unencumbered
of management.
Additionally, working on behalf of the new
owner, HFF placed the five-year, floating-rate loan with BMO Harris Bank.
Proceeds of the financing will be used to acquire the hotel and immediately implement a property improvement plan, which includes a complete overhaul of the lobby, common areas and guestrooms.
Proceeds of the financing will be used to acquire the hotel and immediately implement a property improvement plan, which includes a complete overhaul of the lobby, common areas and guestrooms.
Holiday Inn Orlando SW –
Celebration Area is an official Walt Disney “Good Neighbor Hotel” at 5711 W.
Irlo Bronson Memorial Highway in Kissimmee, 2.5 miles from Walt Disney World
Resort (Disney), which welcomes more than 50 million visitors a year.
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| Preston Reid |
Additionally, the hotel is less than two miles east of Interstate 4, which provides access to Universal Studios Orlando, SeaWorld Orlando, LEGOLAND and the Orlando Premium Outlets.
The hotel comprises two
eight-story guestroom towers and a single-story section between them that was
all completed in 1984 and 1985 and then redeveloped into a Holiday Inn in
2007.
The Holiday Inn Orlando SW
– Celebration Area features an outdoor pool, kid’s pool and whirlpool; fitness
center; business center; game room; playground; Trattoria Café with an onsite
Pizza Hut Express; lobby bar; 4,000 square feet of function space and scheduled
transportation to the theme parks.
The HFF team was led by
senior managing director Michael Weinberg
and associate directors Preston Reid and
Matthew Sand.
“BMO Harris offered a
flexible financing solution that fit well with our client’s business plan for
the hotel,” Sand said. “We were excited
to help Palm Holdings continue to grow its presence in the Orlando market.”
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Director, Public Relations
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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