Axilla Capital Arranges $15.5 Million Non-Recourse, Renovation, Loan for Orlando's Royale Parc Suites Hotel
TROY, MI (September 19, 2017) – Axilla Capital, LLC announced today that it arranged a $15.5 million non-recourse renovation loan for The Royale Parc Suites Hotel in Kissimmee, Florida. The loan proceeds were used to finance the property’s acquisition and fund the hotel’s impending upgrades. Managing Principal Joel Mazur and Associate Tom Fleming of Axilla Capital represented the borrower.
The Royale Parc Suites is a 224-room hotel located at 5876 West Irlo Bronson Memorial Highway in Kissimmee, Florida. Constructed in 1988, the property sits on a 5.04-acre site that is located to the south of US Highway 192 and to the east of the
Central Florida GreenWay toll road. The hotel is currently operating as a Choice Hotels branded Quality Suites, but it will be under-going a major renovation upgrade over the next eighteen months.
The hotel is located approximately three miles southeast of Walt Disney World and about 20 miles southwest of the Orland Central Business District. The neighborhood is primarily a tourist-commercial area with the Walt Disney World theme parks (Magic Kingdom, Epcot Center, Hollywood Studios and Animal Kingdom) all serving as the most significant demand drivers.
About Axilla Capital, LLC
Axilla Capital, LLC is a leading commercial real estate finance and advisory company that specializes in arranging debt, mezzanine and equity capital for hotels, multifamily, office, retail, industrial and self-storage properties. The company’s principals have a combined track record of closing more than $2 billion of transactions. Website: www.axillacapital.com