ORLANDO, FL — December 9, 2021 — Berkadia Hotels & Hospitality announced today the placement of $32.3 million in acquisition financing for the Residence Inn Universal Orlando, a 195-room extended-stay hotel in Orlando, Florida. Senior Director Wyatt Krapf and Managing Director Michael Weinberg secured the loan on behalf of the borrower, Texas-based Paceline Equity Partners. The deal closed December 1.
The lender, Hillcrest Finance LLC provided the three-year loan.
“Hillcrest Finance LLC conducted a seamless process to offer competitive financing terms to assist Paceline Equity Partners with the acquisition of this high-performing and premium-branded hotel,” said Krapf. “Following a challenging year due to COVID, investment activity in Florida and Orlando, specifically, has ramped up considerably as pent-up demand for travel unwinds. Orlando remains the #1 tourist destination in the U.S. and continues to draw interest across the country for investors and lenders who recognize its enduring hospitality value and its impressive resilience.”
Located at 5612-14 Major Boulevard, the Residence Inn Universal Orlando consists of one five-story property recently built in 2018. Hotel amenities include a Universal ticket sales office, complimentary Universal shuttle service, fitness center, outdoor pool and barbeque area, putting green and flexible meeting space. The hotel is conveniently located just outside the gates of Universal Studios and near Epcot, the Orlando Outlet Marketplace and several other dining and retail 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.