MIAMI—Apollo Bank secured a $10 million loan on behalf of Daytona Hotel Two, a partnership between Prime Hospitality Group, Shaner Hotel Group and International Speedway Corporation, for the construction of Fairfield Inn & Suites at the new One Daytona mixed-use project. One Daytona is a premier mixed use development will feature a 300,000-square-foot retail, dining and entertainment district totaling a projected investment of approximately $120 to $150 million, along with the Fairfield Inn & Suites as a central component, and residential community. Evita Francuz, senior vice president and commercial lending officer at Apollo Bank, led the loan securing process on behalf of the client, and with the legal support of attorney Maria Currais of Weiss Serota Helfman Cole & Bierman. Eddy Arriola, chairman of Apollo Bank, says: "The development will have a positive economic impact for the Daytona Beach community over the long term, while enhancing the amenities and accommodations available to Daytona International Speedway visitors for years to come." The Fairfield Inn & Suites will feature 105 modern guest rooms with a lobby bar, 24/7 market, pool and fitness center, business center, flexible work spaces, free high-speed internet and complimentary breakfast. The hotel is expected to open its doors in the summer of 2017.

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Middle Market Digest: Early This Week in Florida

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