RALEIGH, NC Winston Hotels has completed $2.2 million in mezzanine financing for the 150-room Hilton Garden Inn in Tampa, FL. The project is currently under construction and is scheduled to open during the spring of 2002.
The Tampa project is being developed as part of a strategic alliance with Noble Investment Group, Ltd., whereby Winston provides mezzanine financing and its development expertise and Noble affiliates own and operate the developed hotels.
The first hotel being developed under the alliance is a 122-room Hilton Garden Inn in Atlanta, for which Winston provided $1.1 million in mezzanine financing last July. The hotel is expected to open in the spring of this year. (2/22/01)