LOS ANGELES-Platinum Equity obtained a $85-million acquisition and construction loan to purchase six hotel properties located in Florida, Minnesota, North Carolina and Texas. Meridian Capital Group was responsible for assisting in orchestrating the loan. The firm’s managing director, Seth Grossman, felt that Platinum’s strategic decision was right in line with other full-service, reputable brands it also owns.

“The properties fit a niche that they [Platinum] think are underserved,” Grossman tells GlobeSt.com via phone. “Platinum can add substantial value to the hotel properties based on in-house operations and a strong management company that has experience with this level of hotel.”

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