NEW YORK—AFC Realty Capital has secured a $12-million loan to refinance the Hotel Indigo in Sarasota, FL.
The hotel, a 95-room, select-service hotel that opened in 2007, is located in Sarasota’s downtown cultural district. It is the top rated boutique hotel in the Sarasota – Long Boat – Siesta Key market according to TripAdvisor and is the #1 rated Indigo in the IHG brand portfolio, said the company.
A seven-year non-recourse loan was placed by AFC at a competitive fixed rate and funded by a commercial bank, per Arthur Fefferman, president/CEO of AFC.
AFC Realty Capital is a real estate investment banking and advisory firm to the hospitality industry providing debt, equity, mezzanine and equity / joint venture capital. Based here, it has completed transactions in excess of $7 billion.