Done Deals: HFF arranges $42 million financing for Renaissance hotel in Fort Lauderdale, FL

Renaissance Fort Lauderdale Cruise Port Hotel, a 236-room, full-service hotel in the heart of the 17th Street Cruise Port district
in Fort Lauderdale, FL

DENVER, CO – May 14, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged $42.27 million in acquisition financing for the Renaissance Fort Lauderdale Cruise Port Hotel, a 236-room, full-service hotel in the heart of the 17th Street Cruise Port district in Fort Lauderdale, Florida.

Josh Simon

HFF worked on behalf of the borrower, a joint-venture led by DoveHill Capital Management, to place the 10-year, full-term, interest only, fixed-rate acquisition loan with a top-tier CMBS lender.

DoveHill Capital Management engaged their affiliate management company, Wurzak Hotel Group, upon closing.

Renaissance Fort Lauderdale Cruise Port Hotel opened in 2001 and has been updated throughout the years, most recently in 2016.

The hotel features an array of amenities, including 12,838 square feet of meeting and event space; an outdoor pool; 24-hour fitness center; business center; limousine service; and a salon along with three food and beverage outlets, Bistro 17, R Lounge and Calusa Coffee Roasters Bar.

Maxx Carney

Situated on 3.31 acres at 1617 Southeast 17th Street, Renaissance Fort Lauderdale Cruise Port Hotel is situated along the principal east-west artery that provides direct access to the area’s major transportation infrastructure, including Port Everglades, which is in the middle of a $1.6-billion expansion.

The hotel is in Fort Lauderdale, which welcomes more than 15.5 million visitors annually, less than one mile east of U.S. Highway 1 and .3 miles west of the Intracoastal Waterway.

Tyler Dumon

It is also surrounded by area demand drives, including the Greater Fort Lauderdale/Broward County Convention Center, Las Olas Boulevard’s shopping district and some of the best beaches in the country.

The HFF debt placement team representing the new owner was led by managing director Josh Simon, director Maxx Carney and associate Tyler Dumon.