Spirides Arranges $8.7 Million Hotel Development Loan for New Holiday Inn in Downtown Columbia, SC

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The fixed rate and floating rate loans (“refinancing loans”) provide that when either (i) the debt yield for the hotels securing the respective loans for the trailing 12-month period is below 9% during the first year and 10%, 11%, 12% and 13% during each of the next four years of the loans, respectively, (in case of the floating rate loan.

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