The Inn at Calypso Cay Receives Acquisition Financing
A 159-room, select-service hotel in Orlando’s I-Drive area has received acquisition financing in a transaction mediated by HFF.
The Inn at Calypso Cay
ORLANDO, Fla.–The Inn at Calypso Cay, a 159-room, select-service hotel in South Lake Buena Vista received $8.2 million in acquisition financing. The HFF debt placement team led by Director Michael Weinberg placed the four-year, floating-rate loan with two one-year options with a national bank on behalf of the borrower, Palm Holdings.
Located at 5001 Calypso Cay Way, near the intersection of Kissimmee Vineland Road and Osceola Parkway, the property grants quick access to some of the most popular attractions along the city’s tourist corridor. The hotel is 3.8 miles from Walt Disney World, 4.5 miles from Orlando Premium Outlets and 7.1 miles from SeaWorld Orlando. The seven-story facility features on-site amenities including an outdoor pool, fitness center, business center, arcade and sundries shop. Guests also have access to three additional pools with waterslides, volleyball and basketball courts and a nine-hole mini-golf course.
Palm Holdings plans to use a portion of the proceeds to convert the hotel into a Holiday Inn Express & Suites. With corporate offices in Canada, the United States and the United Kingdom, the company builds brand equity through franchise models, management contracts and outsourcing services with leading companies such as Marriott, Hilton and Starwood.
Image source: calypsocay.com
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