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100 Fairway Drive

FINANCEDHotel

Jake Wurzak & Scott Wadler Refinance Hotel In Deerfield Beach For $27.5M With Amerant Bank

100 Fairway Drive

$27,500,000

Building Size

Asset Type

Hotel

Closing

Sep 22, 2022

AI

Amerant Bank has provided a refinancing loan in the amount of $27,500,000 for the property located at 100 Fairway Dr in Deerfield Beach. The property, a hotel with 221 keys, is owned by DoveHill Capital Management, represented by Jake Wurzak. The lending transaction was facilitated by Scott Wadler of Berkadia.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $27,500,000
  • Address: 100 Fairway Dr
  • Market: Deerfield Beach
  • Asset Type: Hotel
  • Keys: 221

DoveHill Capital Management, led by Jake Wurzak, is the landlord of the property. The refinancing loan provided by Amerant Bank, brokered by Scott Wadler of Berkadia, will serve to support the hotel's ongoing operations and potential future expansions.

Players

Scott Wadler

Berkadia

Broker

$10.5B

vol

174 deals

Broker
Amerant Bank
Amerant BankLender

Deerfield Beach Hotel Market Snapshot

Boundary boundary · Hotel · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.58%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93