PTM Partners, Dovehill Capital, And Berkadia Secure $42M Joint Venture Loan For St. Petersburg Hotel

1234 Central Avenue, St Petersburg, Florida 33701, United States

$42,000,000

$2,625/SF

Building Size

16,000 SF

Asset Type

Hotel

Closing

May 16, 2022

AI

A joint venture equity capitalization loan of $42,000,000 was secured for a hotel property located at 1234-1246 Central Ave in St. Petersburg. The hotel has a total of 163 rooms and spans 16,000 square feet.

Summary of transaction details

Property Type: Hotel
Transaction Amount: $42,000,000
Keys: 163
Square Footage: 16,000
Address: 1234-1246 Central Ave, St. Petersburg

The loan was provided by forbright''>Forbright. PTM Partners, represented by Michael Tillman, Scott Meyer, Nicholas Pantuliano, and Dovehill Capital, represented by Jake Wurzak, are the landlords of the property. The brokers involved in the deal are Scott Wadler, Alec Fox, and Preston Reid of Berkadia.

Players