$8.2 million financing arranged by HFF for Holiday Inn Express hotel conversion near Orlando, Florida
ORLANDO, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $8.2 million in acquisition financing for the Inn at Calypso Cay, a 159-room, select-service hotel located in the South Lake Buena Vista submarket in Orlando, Florida.
HFF worked on behalf of the borrower, Palm Holdings, to place the four-year, floating-rate loan with two one-year options with a national bank. Palm Holdings plans to use a portion of the proceeds to convert the hotel to a Holiday Inn Express & Suites, one of the largest hotel brands in the industry.
The seven-story hotel features an outdoor pool, fitness center, business center, arcade and sundries shop. Guests of the hotel also have access to three additional pools with waterslides, volleyball and basketball courts and a nine-hole mini-golf course. Located at 5001 Calypso Cay Way in South Lake Buena Vista, the Inn at Calypso Cay is near the intersection of Kissimmee Vineland Road and Osceola Parkway, two main thoroughfares servicing Orlando’s tourist corridor. The hotel is 3.8 miles from Walt Disney World®, 4.5 miles from Orlando Premium Outlets and 7.1 miles from SeaWorld Orlando.
The HFF debt placement team representing the borrower was led by director Michael Weinberg.
”Palm Holdings has a proven track record of successful hotel renovations and brand conversions in the U.S., Canada and the U.K. This is their second acquisition in Florida over the past couple years, and I know they are targeting more here in the sunshine state,” Weinberg said.
About Palm Holdings
Palm Holdings' corporate offices are located in Canada, United States and the United Kingdom. The company’s specialty is in hospitality services, business services as well as property acquisition and development. Palm Holdings builds brand equity through franchise models, management contracts and outsourcing services with leading companies such as Marriott, Hilton and Starwood. The firm’s successful track record derives from its team's passion for consistently delivering on the promises it make to its partners. Palm Holdings thrives on new opportunities and challenges no matter how big or small; from minor renovation developments, management contracts, re-branding, or full scale development and new builds, we bring expert level management expertise to the table. Learn more at www.palm-holdings.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.