Berkadia’s Hotels & Hospitality team arranged $140 million in combined financing for four Orlando-area hotels on behalf of Doradus Partners. The properties—a 223-room Residence Inn by Marriott, a 273-room Fairfield Inn & Suites by Marriott, a 272-room Home2 Suites by Hilton and a 229-room Homewood Suites by Hilton—are slated to be completed this fall in Winter Garden.
The development will feature a structured parking garage, resort-style pools and a sports facility that will include a soccer field, a basketball court and batting cages. Yedla Management Co. will operate all four properties.
Berkadia secured the four-year, adjustable-rate, nonrecourse construction loan through a direct private lender. Senior director Justin Ownby of Berkadia’s Tampa office with directors Adrienne Kautzman and Mauricio Rodriguez of Berkadia’s Hotels & Hospitality team arranged the financing.
“This was a complex deal with multiple brands and requirements so identifying a lender that could understand its unique elements and accommodate the right structure for ownership took knowledge of active hotel lenders, their constraints and capacity for such a deal,” Kautzman said in a statement. “The lender was able to see the long-term value of the projects and recognized Doradus’ experience in the hospitality sector.
The four hotels will be a part of the Flamingo Crossings Town Center at the western entrance of Walt Disney World Resort. The new master-planned development will include retail, dining and hotels that will cater to resort guests, area vacation-home owners and local residents. At the heart of the mixed-use project will be an approximately 200,000-square-foot retail hub.
Doradus Partners is a privately held real estate development company based in Huntsville, Ala., with a satellite office in Orlando. It was founded in 2016 by Srinath Yedla and is affiliated with Yedla Management Co.