At an estimated total hard construction cost of $376 million, Gaylord's venture is the most ambitious hospitality project undertaken in metro Orlando in the past five years, local lodging industry sources tell GlobeSt.com.
A New York lender consortium headed by Deutsche Banc Alex. Brown Inc., Salomon Smith Barney and CIBC World Markets is funding the construction. The loan facility matures in October 2004. It is priced at 337.5 basis points over the London Interbank Offered Rate.
Nearing a February completion are the 1,400-room Opryland Hotel in Kissimmee, FL; another 360-room Emerald Tower boutique-styled hotel owned by Opryland; and an adjacent 178,000-sf convention center.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
