{"id":1004172177,"date":"2017-04-11T12:51:03","date_gmt":"2017-04-11T20:51:03","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004172177"},"modified":"2025-02-18T05:15:30","modified_gmt":"2025-02-18T13:15:30","slug":"spirides-arranges-8m-loan-for-hilton-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/spirides-arranges-8m-loan-for-hilton-hotel\/","title":{"rendered":"Spirides Arranges $8M Loan for Hilton Hotel"},"content":{"rendered":"

By Laura Calugar<\/p>\n

https:\/\/www.youtube.com\/watch?v=gy4WxnifU5A<\/a><\/p>\n

Spirides Hospitality Finance Co. closed on an $8 million senior loan facility from a southeast U.S. headquartered bank to finance the development of a new Hilton Tru Hotel in Florence, S.C.\u00a0President Harry Spirides led the debt placement team representing the borrower in this transaction.<\/p>\n

The first 18 months during construction will have interest-only mortgage payments priced at the prime interest rate plus .50 percent (currently 4.50 percent) per annum, adjusted quarterly. Upon completion, loan payments will convert to a 25-year fully amortizing principal and interest monthly loan payment schedule. The interest rate of the permanent loan will be fixed for five years, then adjusted every five years. The interest rate will be priced using the 5 year SWAP rate plus 3.55 percent (currently 5.55 percent) per annum. The loan amount was sized using a 75 percent loan to cost ratio, and there is no prepayment penalty after the first five years of the loan.<\/p>\n

Located at 2140 West Lucas St., the soon to be built five-story Tru by Hilton hotel is located less than a mile from Interstate 95 and less than 4 miles from Florence city center. The development will be minutes from Darlington Raceway & Museum, Florence Regional Airport and Florence Civic Center. Other nearby attractions include the War Between the States Museum, Magnolia Mall, Pee Dee Farmers Market, Florence Art Gallery, Veterans Park, Francis Marion University Performing Arts Center, Florence Symphony Orchestra, Florence Little Theatre. The project includes 98 guest rooms on 2 acres of land.<\/p>\n

“It’s no secret that hotel construction lending is not as prolific as it was a couple years ago, even though the demand has certainly not diminished. The sponsor of this project is a respected multi-unit and multi-brand owner and operator of successful hotels throughout the Carolinas, ” said Spirides, in a prepared statement.<\/p>\n

Tru by Hilton is an affordable brand intended to particularly appeal to Millennials<\/a>. The brand operates in the midscale hotel segment and was launched<\/a> at the beginning of 2016.<\/p>\n

Video courtesy of Tru by Hilton <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The Tampa-based financing company arranged the senior construction loan for a new 98-key Hilton in Florence, S.C., from a U.S. bank. <\/p>\n","protected":false},"author":238,"featured_media":1004172189,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21751,21742,21794],"tags":[32805],"class_list":["post-1004172177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-hotel","category-latest","category-videos","tag-hilton"],"acf":[],"yoast_head":"\nSpirides Arranges $8M Loan for Hilton Hotel - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/spirides-arranges-8m-loan-for-hilton-hotel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spirides Arranges $8M Loan for Hilton Hotel\" \/>\n<meta property=\"og:description\" content=\"The Tampa-based financing company arranged the senior construction loan for a new 98-key Hilton in Florence, S.C., from a U.S. bank.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/spirides-arranges-8m-loan-for-hilton-hotel\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-11T20:51:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-18T13:15:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Tru_Exterior-Night_AC.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"682\" \/>\n\t<meta property=\"og:image:height\" content=\"336\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Laura Valean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/spirides-arranges-8m-loan-for-hilton-hotel\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/spirides-arranges-8m-loan-for-hilton-hotel\\\/\"},\"author\":{\"name\":\"Laura Valean\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/2f8b737fce677cc406c08a2c29c1ff38\"},\"headline\":\"Spirides Arranges $8M Loan for Hilton Hotel\",\"datePublished\":\"2017-04-11T20:51:03+00:00\",\"dateModified\":\"2025-02-18T13:15:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/spirides-arranges-8m-loan-for-hilton-hotel\\\/\"},\"wordCount\":347,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/spirides-arranges-8m-loan-for-hilton-hotel\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/04\\\/Tru_Exterior-Night_AC.jpg\",\"keywords\":[\"Hilton\"],\"articleSection\":[\"Finance\",\"Hotel\",\"News\",\"Videos\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/spirides-arranges-8m-loan-for-hilton-hotel\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/spirides-arranges-8m-loan-for-hilton-hotel\\\/\",\"name\":\"Spirides Arranges $8M Loan for Hilton Hotel - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/spirides-arranges-8m-loan-for-hilton-hotel\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/spirides-arranges-8m-loan-for-hilton-hotel\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/04\\\/Tru_Exterior-Night_AC.jpg\",\"datePublished\":\"2017-04-11T20:51:03+00:00\",\"dateModified\":\"2025-02-18T13:15:30+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/2f8b737fce677cc406c08a2c29c1ff38\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/spirides-arranges-8m-loan-for-hilton-hotel\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/spirides-arranges-8m-loan-for-hilton-hotel\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/spirides-arranges-8m-loan-for-hilton-hotel\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/04\\\/Tru_Exterior-Night_AC.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/04\\\/Tru_Exterior-Night_AC.jpg\",\"width\":682,\"height\":336,\"caption\":\"Rendering of Tru by Hilton hotel\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/spirides-arranges-8m-loan-for-hilton-hotel\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Spirides Arranges $8M Loan for Hilton Hotel\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/2f8b737fce677cc406c08a2c29c1ff38\",\"name\":\"Laura Valean\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Laura-Calugar.jpg?w=96\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Laura-Calugar.jpg?w=96\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Laura-Calugar.jpg?w=96\",\"caption\":\"Laura Valean\"},\"description\":\"Laura Valean is an Executive Editor with Commercial Property Executive and Multi-Housing News. She has a 12-year background in broadcast media and joined the CPE-MHN team in 2016. Laura edits in-depth stories on key trends shaping the commercial and multifamily real estate industries, coordinating a team of experienced writers. She also hosts award-winning podcast shows for both brands, including Mission Success: Women in Multifamily, NAA Insights, FTI Experts\u2019 Hub, RICS Monitor and CREW Up. Laura holds a B.A. in Journalism and an M.A. in Media Management. She can be reached at\ud83d\udce7 laura.valean@cpe-mhn.com\",\"jobTitle\":\"Senior Editor\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/laura-valean\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Spirides Arranges $8M Loan for Hilton Hotel - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/spirides-arranges-8m-loan-for-hilton-hotel\/","og_locale":"en_US","og_type":"article","og_title":"Spirides Arranges $8M Loan for Hilton Hotel","og_description":"The Tampa-based financing company arranged the senior construction loan for a new 98-key Hilton in Florence, S.C., from a U.S. bank.","og_url":"https:\/\/www.commercialsearch.com\/news\/spirides-arranges-8m-loan-for-hilton-hotel\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2017-04-11T20:51:03+00:00","article_modified_time":"2025-02-18T13:15:30+00:00","og_image":[{"width":682,"height":336,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Tru_Exterior-Night_AC.jpg","type":"image\/jpeg"}],"author":"Laura Valean","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/spirides-arranges-8m-loan-for-hilton-hotel\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/spirides-arranges-8m-loan-for-hilton-hotel\/"},"author":{"name":"Laura Valean","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/2f8b737fce677cc406c08a2c29c1ff38"},"headline":"Spirides Arranges $8M Loan for Hilton Hotel","datePublished":"2017-04-11T20:51:03+00:00","dateModified":"2025-02-18T13:15:30+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/spirides-arranges-8m-loan-for-hilton-hotel\/"},"wordCount":347,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/spirides-arranges-8m-loan-for-hilton-hotel\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Tru_Exterior-Night_AC.jpg","keywords":["Hilton"],"articleSection":["Finance","Hotel","News","Videos"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/spirides-arranges-8m-loan-for-hilton-hotel\/","url":"https:\/\/www.commercialsearch.com\/news\/spirides-arranges-8m-loan-for-hilton-hotel\/","name":"Spirides Arranges $8M Loan for Hilton Hotel - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/spirides-arranges-8m-loan-for-hilton-hotel\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/spirides-arranges-8m-loan-for-hilton-hotel\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Tru_Exterior-Night_AC.jpg","datePublished":"2017-04-11T20:51:03+00:00","dateModified":"2025-02-18T13:15:30+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/2f8b737fce677cc406c08a2c29c1ff38"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/spirides-arranges-8m-loan-for-hilton-hotel\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/spirides-arranges-8m-loan-for-hilton-hotel\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/spirides-arranges-8m-loan-for-hilton-hotel\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Tru_Exterior-Night_AC.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Tru_Exterior-Night_AC.jpg","width":682,"height":336,"caption":"Rendering of Tru by Hilton hotel"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/spirides-arranges-8m-loan-for-hilton-hotel\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Spirides Arranges $8M Loan for Hilton Hotel"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/2f8b737fce677cc406c08a2c29c1ff38","name":"Laura Valean","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Laura-Calugar.jpg?w=96","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Laura-Calugar.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Laura-Calugar.jpg?w=96","caption":"Laura Valean"},"description":"Laura Valean is an Executive Editor with Commercial Property Executive and Multi-Housing News. She has a 12-year background in broadcast media and joined the CPE-MHN team in 2016. Laura edits in-depth stories on key trends shaping the commercial and multifamily real estate industries, coordinating a team of experienced writers. She also hosts award-winning podcast shows for both brands, including Mission Success: Women in Multifamily, NAA Insights, FTI Experts\u2019 Hub, RICS Monitor and CREW Up. Laura holds a B.A. in Journalism and an M.A. in Media Management. She can be reached at\ud83d\udce7 laura.valean@cpe-mhn.com","jobTitle":"Senior Editor","url":"https:\/\/www.commercialsearch.com\/news\/author\/laura-valean\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Tru_Exterior-Night_AC.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004172177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/238"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004172177"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004172177\/revisions"}],"predecessor-version":[{"id":1004172498,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004172177\/revisions\/1004172498"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004172189"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004172177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004172177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004172177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}