Ladder Capital Loans $59M For Pair Of Florida Hotels

Law360 (July 11, 2019, 2:28 PM EDT) -- Ladder Capital Finance has loaned $58.5 million to a joint venture of Innisfree Hotels and the Poarch Band of Creek Indians for a pair of Gulf of Mexico beachfront hotels in the Florida Panhandle, according to an announcement Thursday from borrower-side broker Jones Lang LaSalle.

The financing is for Hilton Garden Inn Fort Walton Beach and Holiday Inn Resort Fort Walton Beach, five-story hotels that have 178 and 152 rooms, respectively. The financing is for 10 years at a fixed rate of interest, according to Jones Lang LaSalle Inc.

JLL said Thursday that the hotels sit on an area of Santa Rosa...

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