PENSACOLA—The hotel market is the Southeast is still seeing plenty of action—and winning the confidence of investors. Aries Capital just arranged a $57 million CMBS loan for three Gulf Coast hotels for Innisfree Hotels.

Aries Capital senior vice president Jeff Bucaro arranged the financing. The loan closed 32 days from application on a 10-year non-recourse loan to refinance existing debt and fund seasonality reserves. The loan also provided substantial cash back to the Innisfree.

“We were very skeptical about Aries’ ability to close a loan of this size and complexity with multiple brands and properties located in two different states in the time required,” Julian MacQueen, CEO and founder of Innisfree Hotels, tells GlobeSt.com. “Aries delivered and fulfilled their term sheet outline without exception and in record time.”