Berkadia Arranges $14.5 Million Refinance for Holiday Inn & Suites Orlando SW – Celebration Area Hotel
Berkadia announces it has arranged the refinancing of Holiday Inn & Suites Orlando SW – Celebration Area, a 444-key, full-service hotel in Kissimmee, FL. Managing Director Michael Weinberg and Associate Director Alec Fox of Berkadia Hotels & Hospitality secured the financing on behalf of owner Palm Holdings, a hotel management and development company based in Toronto, ON. Orlando-based One Florida Bank provided the five-year term loan.
Palm Holdings’ portfolio consists of 20 hotels containing 3,200 keys, including four hotels comprising nearly 1,000 keys in Florida. Palm Holdings purchased this property in 2017, and has since spent more than $6 million on renovations.
Built in 1984 and renovated in 2019, the Holiday Inn & Suites Orlando SW – Celebration Area Hotel is located at 5711 West Irlo Bronson Memorial Highway. The hotel is proximate to many of Orlando’s lodging demand drivers including Walt Disney World Resort, Universal Studios Resort and the Orange County Convention Center.