Deutsche Bank Provides $130M Floating-Rate Loan For Fort Lauderdale Hotel
1140 Seabreeze Blvd, Fort Lauderdale, FL, USA
$130,000,000
$3,451/SF
Building Size
37,665 SF
Asset Type
Hotel
Closing
Dec 17, 2019
About this deal
AI
The Carlyle Group and InSite Group have closed on a hotel property located at 1140 Seabreeze Blvd in Fort Lauderdale. The property, a hotel with 481 units, was financed with a $130,000,000 floating-rate loan provided by Deutsche Bank.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $130,000,000
- Address: 1140 Seabreeze Blvd
- Market: Fort Lauderdale
- Lender: Deutsche Bank
- Landlord: The Carlyle Group & InSite Group
- Brokers: Jordan Roeschlaub, Dustin Stolly, Nick Scribani, Chris Kramer, John Gallagher - Newmark Knight Frank
- Units: 481
The team from Newmark Knight Frank, including brokers Jordan Roeschlaub, Dustin Stolly, Nick Scribani, Chris Kramer, and John Gallagher, represented the buyers, The Carlyle Group and InSite Group, in this transaction.
On the Map
$130,000,000
$3,451/SF
Hotel
View full map
Players
Fort Lauderdale Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
Loading comparables…
Deal FAQ
Visit Dustin Stolly to view all their deals.
Browse Florida hotel loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93