Heiss of Largo arranges $3 million in financing for 73-room Holiday Inn

Kevin Heiss, account executive for the Largo Group of Companies, secured the financing for a 73-room Holiday Inn Express located at the intersection of Interstate 75 and Jacaranda Blvd. The borrower obtained a $3 million permanent first mortgage with a fixed interest rate that resets after every three years for the next 9 years, with a 25-year amortization schedule. Heiss secured the financing through one of Largo's correspondent life insurance companies. This Holiday Inn Express is newly constructed and opened in 2007, and has a good operating history to date.