Maxim Capital Group Provides $19.3M Construction Loan For Fort Lauderdale's Garden Hotel | 3711 North Ocean Boulevard - The Garden Hotel and Resort | Max Ralby | Hotel | Loan

Summary

Loan

FLORIDA

Hotel

73,364 sqft

The Garden Hotel and Resort, located at 3711 North Ocean Boulevard in Fort Lauderdale, was the subject of a recent transaction. The hotel has a total area of 73,364 square feet and is part of the hospitality sector.

Summary of transaction details:

Property Type: Hotel
Transaction Amount: $19,300,000
Address: 3711 North Ocean Boulevard
Market: Fort Lauderdale

The loan for the renovation of the Garden Hotel was provided by Maxim Capital Group. The loan amount totaled $19,300,000 and was obtained through a Construction Line of Credit. The proceeds from the loan were utilized to renovate the existing Royal Beach Palace Hotel, which will be rebranded as the Garden Hotel. HKS Real Estate Advisors represented the buyer in this transaction.

Players

All
2

Agents
1
Agencies
1

Max Ralby

Associate Director

$51.9M Sold

Newmark

Details

Deal Summary

FINANCED

IMAGE: Josh Greene, Adam Glick, Billy Haber & Max Ralby DATE: 10/31/2023 ADDRESS: 3711 North Ocean Boulevard - The Garden Hotel and Resort MARKET: Fort Lauderdale ASSET TYPE: Hotel ~ SF: 73,364 LENDER: Maxim Capital Group (@MaximCapitalGroup) - Adam Glick (@AdamGlick_), Josh Greene (@JoCoGree) & Billy Haber (@BillyHaber) BROKER: HKS Real Estate Advisors (@Hksrealestateadvisors) - Max Ralby (@MaxRalby) LOAN AMOUNT: $19,300,000 LOAN TYPE: Construction Line of Credit LOAN TERMS: Proceeds utilized to renovate the existing Royal Beach Palace Hotel in Fort Lauderdale, FL, which will be rebranded to the Garden Hotel

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Address3711 North Ocean Boulevard - The Garden Hotel and Resort

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