Stonehill Strategic Capital Provides $104M Construction Loan For Fort Myers Beach Resort

A resort property located at 1111 North Ocean Drive in Fort Myers Beach has been involved in a recent transaction. The resort, owned by TPI Hospitality, was part of a loan deal facilitated by Stonehill Strategic Capital. The loan amount of $104,000,000 will contribute to the funding of the development, covering approximately 70 percent of the project's cost. The loan has a 42-month initial term with two possible extensions, and falls under the category of construction financing.

Summary of transaction details:

• Property Type: Resort
• Transaction Amount: $104,000,000
• Address: 1111 North Ocean Drive, Fort Myers Beach
• Market: Fort Myers Beach

The loan deal was facilitated by Stonehill Strategic Capital, with Mat Crosswy representing the lender. TPI Hospitality, the owner of the resort, was represented by Tom Torgerson, Bill Upshaw, and Chris Flagg as their landlord representatives.