AFC arranges $37.2m for five U.S. hotel properties

According to Peter Berk, president of AFC Hotel Finance Group, the bank secured $37.2 million in financing for five hotel properties throughout the country. AFC arranged a $9 million loan for the 77-room Holiday Inn Express Hotel & Suites-Elko, located at 3019 Idaho St. in Elko, Nev. AFC also secured $9 million for Hampton Inn & Suites-Savannah, located at 591 Al Henderson Blvd. in Savannah, Ga. Additionally, AFC arranged $9 million in financing for the 150-key Holiday Inn Select-Winston-Salem situated at 5790 University Pwy. in Winston-Salem, N.C. Also arranged by AFC is a $6.2 million loan for Comfort Inn & Suites-Rawlins at 2366 East Cedar St. in Rawlins, Wy. The hotel is proximate to Interstate 80, Rawlins Municipal Airport and just half a mile from the Rawlins Recreation Center. In a transaction valued at $4 million, AFC arranged financing for the 65-key Holiday Inn Express Hotel & Suites-Weatherford located at 3825 East Main in Weatherford, Okla.