City National Bank Provides $33M Refinance for Fort Lauderdale's Garden Hotel & Resort

• City National Bank of Florida provided a $33 million refinancing loan for the Garden Hotel & Resort in Fort Lauderdale.
• The two-year loan was secured for the recently renovated 154-key hospitality property.
• IPA Capital Markets arranged the financing, which closed at a 65% loan-to-value ratio.
• The hotel is owned by developer Tom Assouline and his family's French real estate firm.

What the Refinancing Includes

City National Bank of Florida has provided a $33 million refinancing loan for the Garden Hotel & Resort, a hospitality property located at 3711 North Ocean Boulevard in Fort Lauderdale, Florida. The two-year loan was arranged by IPA Capital Markets and will support the recently repositioned hotel as it continues operations in one of South Florida's most active tourism markets. The financing was secured for the 154-key property owned by developer Tom Assouline and his family's French real estate firm.

What Improvements Were Made to the Property

The refinancing follows recent renovations to the hotel's guest rooms as ownership continues to enhance the property's appeal. The Garden Hotel & Resort offers a range of resort-style amenities, including three outdoor swimming pools, a poolside bar, direct beach access, complimentary bicycle rentals, and a putting green. The upgrades helped position the property to attract both leisure travelers and visitors seeking an experiential resort stay along Fort Lauderdale's coastline.

What the Financing Says About the Hospitality Market

IPA Capital Markets arranged the transaction, which closed at a 65 percent loan-to-value ratio. The deal reflects continued lender interest in hospitality properties that offer differentiated experiences and strong market positioning.

"Lenders remain highly focused on differentiated hospitality assets that deliver a true experiential stay. We were able to structure a financing that not only reflected the property's repositioning and strong market fundamentals, but also achieved a material improvement in rate," said Bobby Werhane, Managing Director at IPA Capital Markets.

The transaction highlights how renovated hospitality assets with unique amenities continue to attract financing despite broader market challenges.

What This Means for Fort Lauderdale Hospitality

Fort Lauderdale remains one of Florida's most popular tourism destinations, supported by strong visitor demand, beachfront attractions, and year-round travel activity. The refinancing provides long-term support for the Garden Hotel & Resort as it capitalizes on the area's hospitality market and recent property improvements. Located at 3711 North Ocean Boulevard, the 154-key hotel offers resort-style amenities and direct access to one of South Florida's most desirable coastal markets. The new financing positions the property to continue competing for travelers seeking an upgraded hospitality experience.