The property was originally developed in 2003 as a 181-room Hilton Garden Inn. Innisfree recently completed a renovation and expansion, which added a 92-room all-suites tower. The property was rebranded as a full service Hilton. The financing was provided by GE Real Estate.

This is the third loan GE Real Estate has provided to Innisfree over the past year. Other loans include $27 million to refinance two stabilized beachfront hotels in Orange Beach, AL, including the 119-room Holiday Inn Express at 24700 Perdido Beach Blvd. and the 137-room Hilton Garden Inn Orange Beach at 23092 Perdido Beach Blvd. GE also provided $29 million to refinance the 181-room Hampton Inn Pensacola Beach at 2 Via de Luna in Pensacola Beach.

"Working closely with Grandbridge Real Estate Capital and Innisfree Hotels, we were able to structure over $106 million of on-book fixed-rate financing in 2007, enabling Innisfree to continue to grow their business platform for many years to come," says GE Real Estate relationship manager Joel Traut.