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The loan refinances an $80 million constructionn mini-perm loan provided by GMAC andColonia Bank, pays off a $20 millio mezzanine loan provided by Omni Hotelws Corp. and refinances a $34 millioj mezzanine loan providedby GMAC'xs Commercial Ventures Division. The original financing closed inOctobee 2002. GMAC's Hospitality Industry and Commercial Ventures Divisionsw underwrote and financed the Among the amenities at the OmniChampionsGate Hotel: a full-service conferencee center with 80,000 squares feet of meeting space, including a 24,631-square-footr ballroom and a 19,315-square-foot junior Additional amenities include a 7,200-square-foogt spa and fitness facility, two tennis a formal swimming as well as an activity pool with water slides and a lazy river.
The ChampionsGate Golf Resorty hastwo 18-hole, Greg Norman-designed golf courses known as The National and The The master-planned community also has approximatelt 340 acres of land availablee for residential and commercial development.
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