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 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 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 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, fixed-rate financings, provided by a foreign bank.