Doubletree

Jacksonville, Florida

200 Rooms
Complete Renovation of an Outdated Un-Flagged Hotel
Full Service Hotel

Deal Basics

$8.6 million first lien construction loan secured by a leasehold interest
Three-year term with two one-year extensions
Excellent airport centric location

Unique Challenges

Gut renovation of outdated/obsolete hotel
Developers initial hotel renovation project as principals
Lack of full service hotels in the market
Complicated deal structure due to ground lease with the airport

The Solution

Provided flexible deal structure that worked for both the ground lessor and sponsor
Loan closed as renovations were ongoing allowing the project to continue on schedule

Success Stories

We are driven by the visions of our clients and fueled by our team’s uncompromising work ethic. With more than $1.2 billion dollars funded in first lien construction, mezzanine debt and preferred equity investments, the team’s focus on strong market fundamentals and quality assets paves the way for our proven track record.