Hilton Garden Inn
LOAN DETAILS
Location
Gainesville, Georgia
1st Mortgage
$ 5,750,000
Term
25 years
2nd Mortgage
$ 3,450,000
Term
20 years
Jobs
28
History
The existing lender could not fund the acquisition of this hotel without the FMLP Program, as the current lender’s exposure and FDIC regulations would have prevented them from doing this loan.
The hotel originally opened in 2008 and was sold to a third party, resulting in an SBA 504 Loan. This 118-unit full-service hotel is in excellent, “like new,” condition Other hotel amenities include three meeting rooms, board room with hospitality suite, state of the art business center, full-service restaurant and lounge, indoor swimming pool with outdoor patio, fitness center, and guest laundry. The seasoned management team currently manages more than 3,100 rooms in 16 states, delivering profitability to hotel owners by developing a culture of excellence in the industry.
Hilton is one of the top hotel companies with a breadth of leading franchise brands, spanning the lodging segments from luxurious full-service hotels and resorts to extended-stay suites and mid-priced hotels – all supported by the strength of the Hilton worldwide customer delivery programs and systems. Hilton Garden Inn is redefining the upscale mid-priced lodging category.