Brookfield Asset Management Refinances Hilton Fort Lauderdale Marina With $136M Loan

Brookfield Asset Management has obtained a $136 million refinancing loan for the Hilton Fort Lauderdale Marina using proceeds from a $220 million loan. The hotel, located at 181 Southeast 17th Street in Fort Lauderdale, is a prominent asset in the market. With 595 keys, the Hilton Fort Lauderdale Marina offers a desirable location and a range of amenities for guests.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $136,000,000
• Address: 181 Southeast 17th Street, Fort Lauderdale
• Market: Fort Lauderdale
• Loan Type: Refinance
• Loan Terms: Two-year, floating-rate interest only
• Lender: Coast Commercial Mortgage Trust
• Landlord: Brookfield Asset Management - Bruce Flatt

Coast Commercial Mortgage Trust provided the two-year, floating-rate interest-only loan for the Hilton Fort Lauderdale Marina. The loan will also be used for a Westin-branded hotel in Savannah, Georgia, as part of Brookfield Asset Management's investment strategy.