Fortress Credit Corporation Lends $251M For 245-key Hotel In Fort Lauderdale, FL
1825 Griffin Rd, Dania Beach, Florida 33312, United States
$251,000,000
Building Size
—
Asset Type
Hotel
Closing
Oct 3, 2022
AI
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.
Players
Fort Lauderdale Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93