AFC Hotel Finance Group announced the completion of $8.8 million in financing for two Holiday Inn Express hotels in Omaha, NE and Sylacauga, AL on behalf of Noble Management.AFC (1) (Application Foundation Classes) A class library from Microsoft that provides an application framework and graphics, graphical user interface (GUI) and multimedia routines for Java programmers. Hotel Finance Group announced the completion of $8.8 million in financing for two Holiday Inn Express hotels in Omaha, NE and Sylacauga, AL on behalf of Noble Management. The transactions, which allow the ownership to refinance Refinance 1. When a business or person revises their payment schedule for repaying debt. 2. Replacing an older loan with a new loan offering better terms. Notes: When a business refinances they typically extend the maturity date. existing mortgages and take advantage of the low interest rate environment, were arranged by Peter M. Berk, president of AFC Hotel Finance Group. The first transaction AFC originated and secured for Noble is a $5.5 million loan for a Holiday Inn Express in Omaha, NE. In addition, AFC arranged $3.3 million in permanent financing Permanent financing Long-term financing using either debt or equity. permanent financing The long-term financing that supports a long-term asset. for a Holiday Inn Express in Sylacauga, AL. The newly-opened hotel in Sylacauga had virtually no operating history--a requirement by many local lenders for permanent financing. AFC secured both long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. , fixed-rate financings, provided by a foreign bank. |
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