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1825 Griffin Rd, Dania Beac...

Fortress Credit Corporation Lends $251M For 245-key Hotel In Fort Lauderdale, FL
FINANCEDHotel

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

Fortress Investment Group
Fortress Investment GroupLender

Charles Cohen

Cohen Brothers Realty

Landlord

$1.1B

vol

23 deals

Landlord

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