ORLANDO, FL — December 9, 2021 — Berkadia Hotels & Hospitality announced today the placement of $19 million to refinance the Aloft Lake Buena Vista, a 141-room hotel in Orlando, Florida. Managing Director Michael Weinberg and Senior Director Wyatt Krapf secured the loan on behalf of the borrower, Florida-based Southern Hospitality Management and Development. The deal closed November 29.
The lender, ACRES Capital, provided a three-year, adjustable-rate loan.
“It was a pleasure working with both Southern Hospitality Management and Development and ACRES capital to complete this construction financing takeout request,” said Weinberg. “The Aloft opened in the beginning of 2021 when COVID still presented a great deal of uncertainty for the hotel industry. Our team was able to effectively tell the story of this asset and the Orlando market recovery.”
Located at 7950 Palm Parkway, the Aloft Lake Buena Vista has 141 rooms. Hotel amenities include a fitness center, outdoor pool, 775 square feet of meeting space, bar, market and breakfast area. The hotel is conveniently located near Disney, Disney’s corporate offices, Orlando International Airport and several retail and dining options.
Berkadia Hotels & Hospitality combines best-in-industry innovation, knowledge and experience with the most comprehensive suite of products and services, backed by relentless customer service and support to empower clients to capitalize on the right opportunities at the greatest value. The group serves clients across the country, offering a full set of advisory, investment sales, underwriting and loan origination services and products including Life Company, Proprietary Bridge Lending and Capital Markets Advisory Services.