Orlando, FL Ben Blanton of Largo Capital, Inc. secured a 10-year permanent first mortgage to refinance the existing debt plus cash-out for a 91-room Avid (IHG) Hotel.
The interest rate is locked for the first three years and thereafter adjusts annually until loan maturity. Furthermore, the initial 18 months are interest only with subsequent P&I payments based on a 30-year amortization. The property is accessible to the Orange County Convention Center, Walt Disney World, and Orlando International Airport.
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