MIAMI (September 20, 2019)–LV Lending, a Miami-based private lender focused on residential and commercial investment properties, today announced the closing of $1.595 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. Closing took place 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.
For more information on LV Lending, call (305) 523-6576, email at email@example.com or visit www.lvlending.com.
ABOUT LV LENDING
LV Lending is a Miami-based private lender focused on business and investment mortgage loans on residential and commercial land acquisitions and properties. The company has a current servicing portfolio of $170 million and has overseen more than 460 transactions for $320 million in Florida and Georgia. Founded in 2012, LV Lending prides itself on its team’s approachability, fast closings and high level of transparency. LV Lending is an affiliate of Linkvest Capital and Linkpoint Properties. For more information on LV Lending, call (305) 523-6576, email at firstname.lastname@example.org or visit www.lvlending.com. NMLS # 1291885