Orlando – On Nov. 2, according to a report from the Orlando Sentinel, Parliament House made good on obtaining its projected $3.9 million refinancing loan after months of speculation. On Oct. 30, in advance of its huge Halloween celebration and brimming with excitement, owner Don Granatstein took to social media to declare that the deal was virtually done; at the same time, Parliament House attorney Scott Shuker confirmed to Watermark that the deal was close, but not quite closed yet.
But confirmation to the newspaper of the loan from Lion Financial, a Miami firm co-owned by Ron Simkins and brother Michael Simkins – who are reportedly launching developments in Miami at present – confirmed that the deal would go through on Nov. 3.
Granatstein pointed to the “craziest” financing deal from bankrupt and defunct lenders USA Capital that left the resort with 81 mortgages tied into the property.
“The only way possible to get rid of these mortgages was through Ch. 11,” he says, adding, “The one thing we do have is tenacity. You know this isn’t a business to us. This is our lives, this is our families, this is why this fight has been well worth it.”