Jun
29
HFF Secures Financing for Florida Beach Hotel
ByThe 123-key Days Inn Hotel will feature upon renovations two outdoor pools, upgraded landscaping, fitness and business center, as well as seven additional guest rooms.
HFF secured a non-recourse financing in the total amount of $12.6 million, for the acquisition and repositioning of the Days Inn Hotel, a 123-key beachside hotel located in Pensacola Beach, Fla. The borrower is a joint venture between RREAF Holdings and Innisfree Hotels.
Director Jeff Bucaro and Associate Nicole Schmidt led the HFF debt placement team in placing the non-recourse floating-rate loan through Benefit Street Partners Realty Trust, the transaction representing the 10th financing completed by Bucaro on behalf of the borrowers…
