(Read more on the debt and equitymarkets.)
NEW YORK CITY-Locally based AFC Hotel Finance Group has secured$32.7 million in financing for five hotel properties throughout thecountry. The hotels are located in Panama City Beach, FL; CarsonCity, NV; Brentwood, TN; Horse Cave, KY; and Albuquerque. In earlyOctober, AFC also arranged $31 million infinancing for five hotel properties in Pensacola, FL; Allentown,PA; Pooler, GA; Omaha; and Cullman, AL, as GlobeSt.comreported.
Peter Berk, president of AFC Hotel Finance Group, tellsGlobeSt.com that "each hotel is owned by an independent operatorthat may require working capital for the existing hotelproperty--such as initiating improvements or an expansion--or growtheir firms." He adds that AFC "specializes in identifying solidowner and management teams within key markets throughout the US andworks with them to build their businesses."
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