Driftwood Capital Secures $60M Refinance Loan For Cocoa Beach Hotel With Bank Of America

The hotel located at 1550 North Atlantic Avenue in Cocoa Beach has undergone a refinancing transaction. The property is owned by Driftwood Capital and the lender for the refinancing is Bank of America. The loan amount for this transaction is $60,000,000. It is a three-year, full-term interest-only loan provided by a national bank.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $60,000,000
• Lender: Bank of America
• Owner: Driftwood Capital
• Brokers: Alec Fox, Edmund Aramayo, Michael Weinberg, Scott Wadler - Berkadia
• Loan Type: Refinance
• Loan Term: Three years

The refinancing deal involved key individuals and companies, including brokers Alec Fox, Edmund Aramayo, Michael Weinberg, and Scott Wadler from Berkadia who represented the parties in the transaction.