Fortress Credit Corporation Lends $251M For 245-key Hotel In Fort Lauderdale, FL
FINANCED
$251,000,000
Florida
See Similar DealsHotel
Financed 10/04/2022
FINANCED
Fortress Credit Corporation Lends $251M For 245-key Hotel In Fort Lauderdale, FL
1825 Griffin Rd, Dania Beach, Florida 33312, United States
See Similar DealsHotel
Financed 10/04/2022
Summary
FLORIDA
Asset Type:Hotel
Transaction Type:Loan
Located at 1825 Griffin Road in Fort Lauderdale, this hotel property was involved in a closed transaction. The property is a hotel comprising of 245 keys, making it a substantial asset in the area. The transaction took place on 10/04/2022 and the market value of the property was not disclosed. The image provided by Charles Cohen showcases the property in its current state.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $251,000,000
- Address: 1825 Griffin Road, Fort Lauderdale
- Market: Fort Lauderdale
- Image: Charles Cohen
- Date: 10/04/2022
- Keys: 245
In this transaction, Fortress Credit Corporation acted as the lender for the deal. On the other hand, Cohen Brothers Realty, represented by Charles Cohen, served as the landlord.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$251,000,000.00
Monthly NOI$1,673,333.33
Monthly Debt Service$1,586,490.74
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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