Dealmaker: Hall Structured Finance Closes $42M Hotel Construction Loan

Hall Structured Finance, Dallas, closed a $41.8 million first lien construction loan to finance construction of a dual-branded 144-room Aloft Hotel and 140-room extended-stay Element Hotel in Orlando, Fla.

AD1 Global, Hollywood, Fla., is constructing the hotel as one building, with opening scheduled for late 2020.

“Orlando is the most visited city in the United States, and this new hotel will be located in the center of the area’s top tourism destinations,” said Hall Structured Finance President Mike Jaynes.

The 284-room hotel will stand at the corner of Central Florida Parkway and International Drive within six miles of five of the top 10 most-visited theme parks in the world. The two hotel brands will share several amenities including an outdoor pool, fire pit and grills, a fitness studio and 4,000 square feet of interconnected conference space.

Meridian Capital Group Managing Director of Commercial Real Estate Finance Noam Kaminetzky sourced the project financing from Meridian’s Boca Raton, Fla., office.

This loan represented the 10th hotel construction project Hall Structured Finance has closed in Florida, the most recent being a Hampton Inn & Suites in Riverview, Fla.