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ATLANTA-Apsilon Management has received $9 million in financing for two hotel properties, the Best Western at Atlanta Airport and the Holiday Inn Express.
The financing, which was originated by New York City-based AFC Realty Capital, will allow the hotel ownership to refinance existing mortgages and explore new acquisition opportunities. The financing was arranged by AFC Hotel Finance Group president Peter Berk. The long-term, fixed rate financings were provided by a leading global financial services company.
The first transaction involved a $6-million loan for the Best Western at Atlanta Airport, a 140-room hotel located at 301 North Central Ave. three miles from the Hartsfield-Jackson Atlanta International Airport along Interstate 75. The hotel was recently renovated.
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