Ted Ent Of Innisfree Hotels And Kip Sowden Of RREAF Holdings Secure $50.4 Million Refinancing For Amelia Island Hotels

The transaction involves two hotels located at 2707 Sadler Road and 1997 South Fletcher Avenue in the Fernandina Beach, FL market. The total loan amount is $50,400,000, which encompasses a $29.9 million refinance and conversion loan for the Ocean Coast Hotel into a Holiday Inn Resort and a $20.5 million refinance for the Amelia Hotel. The financing is structured in partnership with a regional bank, incorporating USDA and PACE components.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $50,400,000
• Loan Type: Refinance
• Landlord: Ted Ent - Innisfree Hotels
• Landlord: Kip Sowden - RREAF Holdings
• Brokers: Cronheim Hotel Capital

The financing was arranged for the co-sponsors, Innisfree Hotels and RREAF Holdings, who are key participants in the refinancing process of the two hotels on Amelia Island, showcasing the collaboration between the involved parties.