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Marriott Lake Mary Closes Nearly $26M Refinancing Loan

LAKE MARY, FL-The 304-room hotel gets a first mortgage from RockBridge Capital LLC. Hotel owner RDA Investments Inc. also obtained an $8-million mezzanine loan from the same lender in 2002 to recapitalize the property located in the Colonial Heathrow suburban office park.

By Alex Finkelstein | Updated on September 23, 2005

(To read more on the debt and equity markets, click here.)

LAKE MARY, FL-Florida-based RDA Investments Inc. has received a $25.75-million first mortgage loan from RockBridge Capital LLC of Columbus, OH to refinance the 304-room, three-year-old Marriott Lake Mary hotel, 20 miles north of Downtown Orlando. RDA also obtained an $8-million mezzanine loan from the same lender to recapitalize the property in 2002.

Principals at RDA and RockBridge couldn’t be reached by GlobeSt.com’s publication deadline to learn the length of the loan, its interest rate, estimated occupancy at the hotel and why the financing was done at this time. The property is located in the Colonial Heathrow suburban office park, off Interstate 4.

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