Pebblebrook Hotel Trust Refinances Margaritaville Hollywood Beach Resort For $140M Loan

The Margaritaville Hollywood Beach Resort, located at 1111 North Ocean Drive in Hollywood, has been refinanced by Pebblebrook Hotel Trust and Margaritaville. The hotel, with 369 keys, has secured a $140 million loan at a fixed 7.0% interest rate. This move extends debt maturities and boosts liquidity, resulting in an effective weighted average interest rate of approximately 4.3% for the company's outstanding debt and convertible notes.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $140,000,000
• Loan Type: Refinance
• Loan Terms: 3 year initial term with two one-year extension options
• Landlord: Pebblebrook Hotel Trust and Margaritaville - Raymond D. Martz and Jimmy Buffett

Pebblebrook Hotel Trust and Margaritaville, represented by Raymond D. Martz and Jimmy Buffett, have successfully refinanced the Margaritaville Hollywood Beach Resort. This transaction provides financial flexibility for the company by extending debt maturities and reducing the overall interest rate. The loan terms include a 3-year initial term with two one-year extension options, giving the hotel owners time to further optimize their financial strategies. The involvement of Pebblebrook Hotel Trust and Margaritaville demonstrates their commitment to maintaining and enhancing the success of the Margaritaville Hollywood Beach Resort.