AFC Hotel checks out $8m deal.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 recently arranged $8 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 the Holiday Inn Express Midtown in Center City Philadelphia. The financing was arranged on behalf of an affiliate of Haverford Hotel Partners--owners of the 168-room hotel located at 1305 Walnut Street A number of streets are named Walnut Street:
prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. AFC Hotel Finance Group, a wholly-owned subsidiary of AFC Realty Capital, a Manhattan based real estate investment firm. The loan was for a ten-year term with an interest rate below 5.5%. It was originated and placed by Michael Sonnabend, an AFC principal, with a Wall Street conduit lender. "The transaction was highlighted by an advantageous financing structure which was interest only with no funded reserves for the full ten-year term of the loan," Sonnabend said. |
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