Thorofare Capital has funded a $12,000,000 fixed rate bridge loan for the acquisition of The Four Points by Sheraton Orlando Studio City. Thorofare funded the portfolio loan in just 12 days from application in order to aid the sponsor in closing on a shortened escrow period. The hotel is situated along the north side of International Drive, within the loop formed by American Way, less than ¼ mile northeast of the Wet N’ Wild water park and 0.8 miles south of the main entrance to the Universal Studios and Island of Adventure theme parks.

The Four Points by Sheraton Orlando Studio City is a 21-­‐story, 301-­‐room full service hotel located at 5905 International Drive, directly across from the entrance to the Universal Orlando Resort. The hotel was acquired from Garrison Investment Group, which had owned the property since 2011. Built in 1979, the hotel underwent a multimillion‐dollar renovation in 2007, and was then reflagged under Starwood’s Sheraton Four Points brand.

Thorofare’s acquisition facility allows for immediate prepayment, which enables the sponsor to proceed with procuring a permanent loan that will fully capitalize the three‐stage Starwood PIP. The non-recourse financing was sized to 80% of the purchase price. The “unitranche” structure was funded through Thorofare’s special situations lending fund with Thorofare retaining the senior tranche and the junior position funded by separately managed accounts, underscoring its ability to provide creative solutions to qualified sponsors.

The sponsor is an affiliate of Hotel Capital LLC, a Indianapolis-based hotel investment and management firm. The sponsor currently owns in excess of 2,900 hotel rooms as direct equity investments and as a limited partner alongside experienced operators. The Principals of the firm have completed over $3 billion of hotel transactions, which range from debt acquisitions, direct equity and joint venture equity, as well as property-level operation experience.