Prime Group And Shaner Hotel Group Secure $54 Million Loan For Faro Blanco Resort & Yacht Club
1996 Overseas Highway
$54,000,000
Building Size
—
Asset Type
Hotel
Closing
Nov 5, 2025
About this deal
AI
The asset involved in this transaction is the Faro Blanco Resort & Yacht Club located at 1996 Overseas Highway, Marathon, FL. The resort features 126 keys and is currently part of Hilton’s Curio Collection following a significant renovation and rebrand completed in August 2024.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $54,000,000
- Lender: Jared Schlosser - Peachtree Group
- Landlord: Larry Abbo - Prime Group
- Landlord: Lance Shaner - Shaner Hotel Group
- Loan Terms: three-year, floating-rate
- Market: Marathon
This transaction involves a joint venture between Prime Group and Shaner Hotel Group, which secured bridge financing from Peachtree Group to recapitalize the resort. The funding is intended to position the property to benefit from the Florida Keys Marathon International Airport expansion.
On the Map
$54,000,000
Hotel
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93