Miami-based firm borrows $21.5M to build a Tru by Hilton hotel in Orlando

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Miami-based Epelboim Development Group got a $21.5 million loan to finance construction of a Tru by Hilton hotel in Orlando.

The site of the eight-story, 259-suite hotel on Westbrook Avenue in Orlando is across from the Orange County Convention Center. The hotel is expected to open in the fourth quarter of 2019.

The construction loan is “part of our capital stack, which is made up of the loan, private equity and EB-5 capital, totaling $39.5 million,” Noel Epelboim, president and CEO of Epelboim Development Group, said in a prepared statement.”

BridgeInvest originated the construction loan for the hotel, which would be the largest Tru by Hilton to date. Tanya Little, CEO of Hart Capital Partners, placed the $21.5 million loan.

Epelboim Development Group is now in the final stages of building an EVEN Hotel in Miami, and the firm has two other hospitality projects under development in Georgia. 

More at https://therealdeal.com/miami/2018/05/20/miami-based-firm-borrows-21-5m-to-build-a-tru-by-hilton-hotel-in-orlando

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