LV LENDING ARRANGES FINANCING FOR BEST WESTERN HOTEL IN PENSACOLA
MIAMI (September 2019)–LV Lending, a Miami-based private lender focused on residential and commercial investment properties, today announced the closing of $1.56 million in financing for Park Avenue Hotel Group Florida’s renovation of a 21,758 square-foot, four-story hotel located at 7220 Plantation Rd. in Pensacola, FL. The developer is renovating and converting the 1.56-acre property into a 61-room Best Western Hotel. The loan was arranged by Camilo Niño, Ricardo Uribe, and Alen Hernandez of LV Lending, on behalf of the borrower, Park Avenue Hotel Group Florida. The closing took place on Sept. 13th.
The building was built in 1985. Park Avenue Hotel Group Florida, led by experienced hotel developer Charles Morais, acquired the property for $950,000 in June 2017. Renovations have begun and completion is slated for Q3 2020.
About LV Lending
LV Lending is a Miami-based private lender focused on investment purpose loans for the acquisition and development of residential, commercial, and land projects. The company has a current servicing portfolio of over $200 million and has overseen more than 500 transactions for $400 million in Florida and Georgia.
Founded in 2015, LV Lending prides itself on its team’s approachability, fast closings, and high level of transparency. The company offers personalized funding solutions for construction loans, refinancing, commercial property acquisitions, and bridge loans, among other mortgage loans and business investments.
About Bellavista Building Group
Bellavista Building Group and ARB Development are Maitland-based developers and builders focused on residential and commercial developments. For more information call 407-636-8900, email [email protected] visit www.bbg-fl.com. CBC060446