Riverview hotel obtains $14.5 million refinancing package

The owners of the Hilton Garden Inn in Riverview have refinanced the property for $14.5 million.

The 119-room hotel is at 4328 Garden Vista Drive and, according to Hillsborough County property records, is owned by GS Development out of Tifton, Georgia. The records show the company bought the then-vacant land in 2007 for $1.5 million.

Largo Capital, which worked with the hotel’s ownership and announced the financing package, says it secured a first mortgage to refinance existing debt.

The firm says the 10-year, fixed-rate, non-recourse loan includes interest only payments for the life of the loan and provided cash out for the borrower.

“Financing terms were held as originally quoted despite an underwriting and closing process that included back-to-back major hurricanes in a two-week timeframe,” Sarasota-based Largo Capital says in the statement.

The hotel, just off of Interstate 75 and U.S Highway 301, features an outdoor swimming pool, fitness center, business center, meeting room, lobby pantry and a full-service restaurant.

Largo was founded in 1989. According to its website, the firm passed $35 billion in total production last year. Ben Blanton, a vice president of originations, secured the financing.