AFC Arranges Financing for Hampton Inn-Dallas
Hospitality Capital Provider Brings Institutional Dollars to Secondary Markets
AUGUST 20, 2008. AFC Hotel Finance Group, a capital provider that has sourced more than $300M for hospitality development, construction and renovation projects in the first half of 2008 alone, secured $9M in financing for the Hampton Inn-Dallas located at 1577 Gateway Blvd in Richardson, Texas. Peter M. Berk, President of AFC Hotel Finance Group, made the announcement.
Hampton Inn-Dallas is a 128-suite hotel offering a fitness center, swimming pool, business meeting facility and all modern amenities. The hotel is proximate to a wide range of restaurants, major shopping centers and the Dallas-Fort Worth International Airport.
"The portfolio lender that provided financing for this hotel got comfortable with the strong brand affiliation and proven performance of the hotel, even though the current owners have owned the property for less than 18 months," Mr. Berk commented. "With the absence of conduits, the portfolio lenders have become extremely aggressive. This is a pattern AFC Hotel Finance Group has seen in 2008."
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