DAYTONA BEACH, Fla.--(BUSINESS WIRE)--Consolidated-Tomoka Land Co. (NYSE MKT: CTO) (the “Company”) today announced the origination of a $14.5 million first mortgage loan secured by the long-term ground lessee’s interest in the 240 room Sheraton Hotel located in the central business district of Old San Juan adjacent to the cruise line docks in San Juan, Puerto Rico. The interest only loan has an initial term of 36 months and bears interest at 30-day LIBOR plus 9.00%, of which 7.00% is payable cu
| < Prev | Next > |
|---|
