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| Days Inn Hotel, 16 Via De Luna Drive, Pensacola Beach, FL |
CHICAGO, IL –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has secured $12.6 million in
non-recourse financing for the acquisition and repositioning of the Days Inn Hotel,
a 123-room beachside hotel located in Pensacola Beach, Florida.
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| Nicole Schmidt |
HFF worked on behalf of
the borrower, a joint venture between RREAF Holdings and Innisfree Hotels, to
place the floating-rate loan with two one-year extension options with Benefit Street
Partners Realty Trust. Innisfree Hotels
will be a partner in the hotel and will manage the property.
After renovations are
complete, the three-story Days Inn hotel will have two outdoor, resort-style
pools; a Tiki bar; upgraded landscaping; an additional seven guest rooms;
fitness center; business center; beach access and sundeck.
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| Jeff Bucaro |
Situated on white sand
beaches overlooking the Gulf of Mexico, the hotel is located at 16 Via De Luna
Drive on Pensacola Beach’s Santa Rosa Island.
The hotel is within walking distance to numerous popular restaurants and
is proximate to major tourist attractions, including deep-sea charters,
recreational water sports, Naval Air Station Pensacola and the Zoo at Gulf
Breeze.
The HFF debt placement
team representing the borrowers was led by director Jeff Bucaro and associate Nicole
Schmidt. This represents the 10th
financing transaction completed by Bucaro for the two borrowers.
For a
complete copy of the company’s news release, please contact:
Kristen M. Murphy
Director, Public Relations
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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