TAMPA, FL – March 29, 2023 — WebWire – Essex Capital Group, Inc. (“Essex”), announced today that the firm recently arranged a $19,400,000 debt facility to fund the acquisition and renovation of an existing Hilton Garden Inn hotel located in central Florida (the “Financing”).
The debt Financing was a part of an overall $27.0 million acquisition and renovation of the hotel.
Rob Swain, Essex President said, “Essex was approached by a highly experienced hotel ownership team with a contract to buy a profitable Hilton property that was in need of updating. We were pleased to be able to execute a debt financing solution for the principals, especially considering the currently stressed banking environment.”
Essex Capital acted as the exclusive financial advisor for this transaction.