Palm Holdings has secured $8.2 million in acquisition financing for the Inn at Calypso Cay hotel located in the Orlando submarket of Kissimmee. The 159 room property stands at the intersection of Kissimmee Vineland Road and Osceola Parkway. The seven-story hotel features an outdoor pool, fitness center, business center, arcade and retail. Palm Holdings plans to convert the hotel into a Holiday Inn Express & Suites. Holliday Fenoglio Fowler worked on behalf of the borrower to obtain a four-year, floating-rate loan with two one-year options with a national bank.
”Palm Holdings has a proven track record of successful hotel renovations and brand conversions in the U.S., Canada and the U.K. This is their second acquisition in Florida over the past couple years, and I know they are targeting more here,” said HFF director Michael Weinberg.
