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Nov

06

Meridian Secures Financing for Tallahassee Hotel

By Tony Seruga

Wyndham Garden Capitol features a wide array of amenities including an outdoor pool and a 24-hour fitness center. The property will undergo a full renovation this year.

Meridian Capital Group arranged $5.3 million in debt financing for the repositioning of Wyndham Garden Tallahassee Capitol, a 148-key hotel in Tallahassee, Fla. AD1 Global, a hotel investment, acquisition and development company, purchased the asset in October.

The two-year loan features a LIBOR-based rate, full-term interest-only payments and one 12-month extension option. An entity affiliated with C-III Capital Partners provided the short-term loan…

Meridian Secures Financing for Tallahassee Hotel

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