Free press releases distribution network?

Agency / Source: General Electric Company

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!



GE Capital Launches Secured Revolving Credit Real Estate Product with $45 Million Facility to Platinum Hospitality Management - Provides speed and flexibility for hotel acquisitions (NYSE: GE) - PlatinumCos.com / GEFranchiseFinance.com
GE Capital Launches Secured Revolving Credit Real Estate Product with $45 Million Facility to Platinum Hospitality Management

 

PRZOOM - /newswire/ - Scottsdale, AZ, United States, 2013/05/28 - Provides speed and flexibility for hotel acquisitions (NYSE: GE) - PlatinumCos.com / GEFranchiseFinance.com. NYSE: GE

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Franchise/Biz Opportunity Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

GE Capital’s Franchise Finance business announced today that it has provided a $45 million real estate-secured revolving credit facility to new customer Platinum Hospitality Management, an affiliate of Platinum Companies. Based in Hermitage, TN, a suburb of Nashville, Platinum operates several premium-branded, select service hotels under the Marriott, Hilton and Intercontinental brands.

Targeted at mid-market hotel franchisees, this new credit facility format provides for interest-only payments and no pre-payment fees while allowing borrowers to move properties into and out of the facility.

“When an opportunity comes up to buy a hotel, I need to move quickly,” said Mitch Patel, president / CEO of Platinum Companies. “In the past, it could take 60 days to line up financing with other lenders. Because of GE Capital, I now have a secured credit facility that I can tap whenever it’s necessary. This allows Platinum to take advantages of opportunities as they arise by providing REIT-like buying power and execution.”

“As the commercial real estate markets improve, limited-service hotels are becoming attractive properties for investors,” said Jim Petty, senior vice president of hotel originations with GE Capital, Franchise Finance. “Our goal in designing this financing product was to give owners the flexibility to make acquisition decisions on the spot, without delays. As their businesses continue to grow, owners can move properties in and out of the credit facility as necessary.”

In Platinum’s case, the initial credit facility currently contains three properties located in Texas and Tennessee and valued at approximately $30 million.

Franchise Finance provides financing to experienced multi-unit limited and select service branded hotel operators across the U.S. In addition to its new real estate-secured revolving credit facility, it also provides funds for refinancings and acquisitions.

About Platinum Companies
Platinum Hospitality Management (platinumcos.com) is the management division of Platinum Companies, a second-generation, vertically-integrated hospitality company which owns, builds and manages mid-market, focused service hotels. It maintains key strategic relationships with leading brands, including Hilton, Marriott, Intercontinental and Starwood.

About GE Capital, Franchise Finance
GE Capital, Franchise Finance (gefranchisefinance.com) is a leading lender for the U.S. franchise finance market via direct sales and portfolio acquisitions. With more than 30 years of experience and $9 billion in served assets, it provides financing to more than 2,000 customers and 16,000 property locations. The business specializes in financing mid-market operators with multiple stores in the restaurant and hospitality industries. Its team of industry experts works with entrepreneurial customers to help them develop individualized growth plans. GE Capital, Franchise Finance customers also receive access to its proprietary industry research and cutting-edge digital tools.

GE Capital (gecapital.com) offers consumers and businesses around the globe an array of financial products and services.

GE (ge.com) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Franchise/Biz Opportunity Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: General Electric Company

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
Franchise Biz Opportunity - Franchising.com is very welcome to link this article from their website as well as all previous ones and name PRZOOM - PRTODAY / NewswireToday as one of their sources. Franchising.com is one of those numerous websites caught using others content without offering link back to the original source. Google™ should take necessary action and remove Franchising.com from Google™ News.

 
  Your Banner Ad showing on ALL
Franchise/Biz Opportunity articles,
CATCH Visitors via Your Competitors Announcements!


GE Capital Launches Secured Revolving Credit Real Estate Product with $45 Million Facility to Platinum Hospitality Management

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
GE News Center |
Contact: Lisa Tibbitts - GE Capital Americas 
203-956-4582 lisa.tibbitts[.]ge.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any General Electric Company securities in any jurisdiction including any other companies listed or named in this release.

Franchise/Biz Opportunity via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!




Read Latest Press Releases From General Electric Company / Company Profile


Read Franchise/Biz Opportunity Most Recent Related Press Releases:

Minnesota Company Begins Nationwide Franchising Effort
Israel’s Leading Business Promotion Group to Visit India in July
GE Capital Provides Serazen with Financing to Acquire 50 Hardee’s Units
GE Capital Provides Financing to Boston-Area Domino’s Franchisee
New Japanese Service FranchiseMeets Named and Quoted in FIM Keynote Address
Nashville Investors Acquire the Master Franchise Rights to a Fast Growing Home Care Company
GE Capital Finances Acquisition of 26 Denny’s Restaurants
GE Capital Finances Expansion of Planet Fitness Franchisee PF Growth Partners
GE Capital Lends $45 Million to Largest McAlister’s® Deli Franchisee The Saxton Group
Jantize America Expands into Lehigh Valley, Pennsylvania

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
Find business coaching, life coaching, executive coaching and corporate coaching, best selling coaching books, ...



PREMIUM Members


Visit  Triggr & Bloom

Visit  JobsWare.com

Visit  BizJobs.com







 
  ©2016 PRZOOM — Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today