The owner of two Hampton Inn hotels in Palm Beach County has received $31.5 million in financing.
Morgan Stanley Mortgage Capital Holdings provided the owner of the hotels with the senior mortgage loans, the South Florida Business Journal reported. Both mortgages have a 10-year, fixed-rate term with an interest rate around 5 percent.
The transaction was announced by HFF, which arranged the financing on behalf of the undisclosed owner. HFF director Elliott Throne, senior managing director Mike Kavanau and real estate analyst Alexandra Lalos represented the owner. The company did not disclose the exact location of the hotels. [South Florida Business Journal] — Eric Kalis