AFC Arranges $33M for Five-Hotel Refi

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NEW YORK CITY-Locally based AFC Hotel Finance Group has secured $32.7 million in financing for five hotel properties throughout the country. The hotels are located in Panama City Beach, FL; Carson City, NV; Brentwood, TN; Horse Cave, KY; and Albuquerque. In early October, AFC also arranged $31 million in financing for five hotel properties in Pensacola, FL; Allentown, PA; Pooler, GA; Omaha; and Cullman, AL, as GlobeSt.com reported.

Peter Berk, president of AFC Hotel Finance Group, tells GlobeSt.com that “each hotel is owned by an independent operator that may require working capital for the existing hotel property–such as initiating improvements or an expansion–or grow their firms.” He adds that AFC “specializes in identifying solid owner and management teams within key markets throughout the US and works with them to build their businesses.”