Dealmaker: Hall Structured Finance Provides $29M To Refinance Florida Hotel
Hall Structured Finance, Dallas, closed a $29.4 million bridge loan to refinance the Serena Hotel, a Tapestry Collection Hotel by Hilton in Aventura, Fla.
Aventura-based Rieber Developments built the 100-key hotel, which opened at 2820 NE 214th Street in May 2021. Driftwood Hospitality Management manages the property, which includes 34 extended-stay guestrooms.
Photo: Hall Structured Finance
The hotel is 14 miles from Fort Lauderdale and 22 miles from Miami Beach within a mixed-use development in the Aventura medical district.
“This was a compelling project for us to finance given the high quality nature of the hotel and its central location between two major south Florida cities, both of which have shown great economic resilience during the pandemic” said HSF President Donald Braun.
Colliers International Executive Directors Dmitry Levkov and Jeffrey Donnelly sourced the financing.
In February HSF closed a $44.8 million bridge loan to refinance the recently opened dual-flagged Hampton Inn and Home2 Suites by Hilton – Las Vegas Convention Center in Las Vegas. HSF had previously provided a first lien construction loan on the property to the Las Vegas-based hotel developer DG Design+Development.
The six-story, 250-room hotel offers both select-service and extended-stay options. Located near the east side of the Las Vegas Strip adjacent to the Las Vegas Convention Center, the hotel is convenient to Allegiant Stadium, T-Mobile Arena, Harry Reid International Airport and the UNLV campus.
Jay Miller, Director of BayBridge Real Estate Capital, New York, brokered the deal.
