BridgeInvest Closes a $9.5 MM Acquisition Loan in Miami Beach, FL
1st Priority Mortgage Loan
Loan Amount
$9,500,000
Property Type
Hotel
Location
Miami Beach, FL
BridgeInvest is excited to announce the closing of a $9.5MM acquisition loan for a 71-key, 1940-built, art deco-style historic hotel in Miami Beach, Florida. The property underwent a major renovation from 2017 to 2019 to be converted from 41 apartment rental units into Palihouse’s first East coast hotel operation. In 2023 the agreement with Palihouse was terminated and the property was rebranded as the Hotel Trouvail.
- Repeat borrower
- Heavy ramp to stabilization
- Ability to fund a non-cash flowing asset
