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| Sheraton Sand Key Resort, Clearwater Beach, FL |
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| Scott Wadler |
MIAMI, FL, June 22, 2016 –
Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a
$41.79 million refinancing for the Sheraton
Sand Key Resort, a 390-room, full-service, resort-style, beachfront hotel
in Clearwater Beach, Florida.
HFF worked on behalf of
the borrower to place the five-year, fixed-rate loan with BankUnited.
The Sheraton Sand Key
Resort is situated on a 21.1-acre parcel with 360-degree water views of both
the Gulf of Mexico and the Intracoastal Waterway.
Located at 1160 Gulf Boulevard, the hotel has
beachfront access to more than 500 linear feet of Clearwater Beach, recently
voted the Best Beach in the United States in 2016 by TripAdvisor, and is
adjacent to Sand Key Park.
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| Alexandra Lalos |
The nine-story Sheraton
Sand Key Resort features 24,000 square feet of indoor and outdoor function
space, an outdoor pool overlooking the beach, fitness center, spa services,
tennis and beach volleyball courts, whirlpool, apparel and gift shop and five
food and beverage options, including Rusty’s Bistro, Island Grille, Poolside
Café and Mainstay Tavern.
The HFF debt placement
team representing the borrower was led by senior managing director and head of
HFF’s hotel group Daniel C. Peek and associate directors Scott Wadler, Preston Reid and Alexandra Lalos.
“Lenders were attracted to
the hotel’s generational ownership and management team, as well as its
expansive, 10-acre beachfront on Sand Key,” Wadler said.
“The beaches of Pinellas
County continue to earn national and international accolades, and, with its
recent comprehensive renovation, the Sheraton Sand Key Resort is well
positioned to capitalize on the millions of annual visitors coming to the
area,” Reid added.
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Director, Marketing
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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