Local Investor Secures $9 Million Refi for Holiday Inn Express in Lake Wales
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A private investor taking title as Lake Wales Hotels & Resorts LLC secured a $ 9 million non-recourse commercial mortgage-backed securities (CMBS) permanent loan to refinance the Holiday Inn Express at 2953 Ridge Way in Lake Wales, FL. Aries Conlon Capital senior vice president Francisco Nacorda originated and arranged the 10-year, fixed-rate loan, which closed at a 69 percent loan-to-value ratio with 30-year amortization. “After purchasing the…
Tampa/St. Petersburg Commercial Real Estate News From CoStar Group
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