The purpose of this sub-participation loan is to finance the construction of a five-story, interior corridor, 106-room Suites, Orlando, FL. The proposed hotel will operate under a licensing agreement (in file) for a term of 30 years after the opening date.
The Subject Property is a Select-Service lodging facility that will feature 106 rooms, a restaurant and bar, 1,433-SF of meeting space, an outdoor pool, a fitness room, a business center, a market pantry, a guest laundry room, and an outdoor patio. The hotel will also contain the appropriate parking capacity to meet city and county regulations. The proposed Cambria Suites will be conveniently located and will primarily service the Orlando International Airport (MCO).
|Loan Term||11.25 yrs|
|Participation Availability Amount||$8,833,103|
|Minimum Participation Amount||$250,000|
|Original Loan Amount||$9,900,000|
|Full Loan Documentation||Link|