3650 REIT Provides $57.5M Loan For Hotel In Sarasota

1255 North Palm Avenue

Hotel

Financed 1 year ago

Summary

Loan

FLORIDA

Hotel

Located at 1255 North Palm Avenue in Sarasota, this hotel property was involved in a closed transaction. The hotel consists of 162 keys and is owned by Prime Hospitality Group.

Summary of transaction details:

Property Type: Hotel
Transaction Amount: $57,500,000
Loan Details: 10-year loan from 3650 REIT - Toby Cobb

Toby Cobb, representing 3650 REIT, facilitated the loan for this transaction.

Players

All
1

Lenders
1

3650 REIT

Details

Deal Summary

FINANCED

IMAGE: Toby Cobb DATE: 07/27/2022 ADDRESS: 1255 North Palm Avenue MARKET: Sarasota ASSET TYPE: Hotel ~ KEYS: 162 LENDER: 3650 REIT - Toby Cobb LANDLORD: Prime Hospitality Group LOAN AMOUNT: $57,500,000 LOAN TERMS: 10-year loan

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Address1255 North Palm Avenue

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