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07

Marcus & Millichap Arranges Loan for FL Hotel Buy

By Tony Seruga

The $15.9 million loan was used to purchase two properties located in Apopka, Fla., less than 15 miles from Orlando.

Marcus & Millichap Capital Corp. arranged a $15.9 million loan for the acquisition of two hotels located in Apopka, Fla. The assets—a Hampton Inn & Suites and a Holiday Inn Express & Suites—changed hands for $17.1 million.

“The sale underscores the strength of the Orlando hospitality market, where high average daily rates and revenue per available rooms are attracting the interest of experienced hospitality property investors. The price was based on the outstanding performance of the hotels plus the potential upside the improvements will bring,” said Ahmed Kabani, first vice president of investments with Marcus & Millichap, who represented the seller and procured the buyer…

Marcus & Millichap Arranges Loan for FL Hotel Buy

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