Prime Group And Shaner Hotel Group Secure $54 Million Loan For Faro Blanco Resort & Yacht Club

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.