BridgeInvest Closes a $19.75 MM Acquisition Loan in West Palm Beach, FL
1st Priority Mortgage Loan
BridgeInvest is excited to announce the closing of a $19.75 million acquisition loan that is senior secured by a 199-key hotel in West Palm Beach, Florida. Following the completion of a property improvement plan, the Sponsor will convert the hotel from a Holiday Inn to a Delta by Marriott.
- Property improvement plan and brand conversion
- Asset acquired out of bankruptcy
- Highly experienced hotel operator