Thursday, June 30, 2016

Meridian Capital Group Arranges $15.4 Million in Construction Financing for the Wyndham Garden Hotel in Dania Beach, FL

Wyndham Garden Dania Beach Hotel Rendering, Dania Beach, FL

Boca Raton, FL – Meridian Capital Group, America’s most active debt broker, arranged $15.4 million in construction financing for the development of a new Wyndham Garden hotel located in Dania Beach, FL.

Noam Kaminetzky
The three-year, interest-only construction loan, provided by BB&T, converts to a four-year mini-perm loan with a 25-year amortization schedule after the initial term. This transaction was negotiated by Meridian Managing Director, Noam Kaminetzky, who is located in the Company’s Boca Raton, FL office.

The ground-up Wyndham Garden – Dania Beach hotel project will total seven stories and contain 142 guest rooms. It is located 1.5 miles from the beach and in close proximity to major attractions including Las Olas Boulevard, Riverwalk, Dania Jai Alai, the Gallery of Amazing Things, American Offshore Marina, Boomers, K1 Speed and the Convention Center.

The hotel development is also minutes from the Fort Lauderdale / Hollywood International Airport and close to I-95 and I-595 which provide terrific accessibility for business and leisure travelers.

“This transaction is a significant win for the sponsors as construction lending, particularly for hotels, has pulled back recently and there was an added layer of complexity involving EB-5 equity as part of the capitalization,” said Mr. Kaminetzky. 

“Meridian used its strong market knowledge in combination with its exceptional lender relationships to close this complex transaction on favorable terms and in line with sponsor’s business plan,” he added.

For a complete copy of the company’s news release, please contact:

Jonathan Stern
Meridian Capital Group

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