ORLANDO—The Holiday Inn Daytona Beach, a 96-room hotel in Daytona Beach, FL, just secured a $5.4 million loan. HFF arranged the financing for the borrower, Linchris Hotel Corp.

MC-Five Mile offered the 10-year, fixed rate loan. HFF managing director Greg LaBine and director Michael Weinberg led the debt placement team that arranged the financing. The firm will also service the loan.

“Momentum from debt capital providers continues to grow for all major product types in Florida,” Weinberg tells GlobeSt.com. “We are consistently amazed by the amount of liquidity, particularly the rebound of interest in the hotel sector.”

The Holiday Inn Daytona Beach is located at 137Automall Circle, which is just off Interstate 95 at LPGA Boulevard. Daytona International Speedway and beach access are a 15 minutes away by car and two championship golf courses housed at LPGA International is less than five minutes away. 

Opened in 2009, the hotel has 2,300 square feet of meeting space, full restaurant and lounge, outdoor pool and whirlpool, fitness room, and business center. Room amenities include flat-screen televisions, refrigerators, microwaves and high-speed wired and wireless Internet.

“Linchris is a tremendous operator and has strong operating margins on their existing Northeast focused portfolio,” LaBine tells GlobeSt.com. “Linchris is looking to take their management talent to a new marketplace, and this asset is the first of many they hope to acquire in the Southeastern United States.”