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Brokerage
Posted: January 27, 2014
Svec of Largo arranges $6 million for the Hampton Inn Fishkill; Refinances existing debt of 99-room hotel in Hudson Valley
fishkill NY John Svec, managing director of the Largo Hospitality Finance Group, arranged $6 million to refinance the existing debt on the 99-room Hampton Inn. Built in 1998 with visibility from I-84, the hotel is professionally managed and consistently performs at the top of its competitive set. The Hampton Inn Fishkill services numerous Hudson Valley tourist attractions and universities, as well as Gap Inc.'s Northeast Distribution Center, the Downstate Correctional Institution, and two regional IBM tech campuses. The client is particularly pleased to have received multiple loan offers and with the loan Svec ultimately structured and negotiated. The 25-year loan carries a 10-year fixed rate, modest prepayment restrictions, and a number of creative credit enhancements.
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