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Berkadia Arranges $70M Total Transaction Volume from Sale, Financing of Deerfield Beach Hotel
Fort Lauderdale, FL-based DoveHill Capital Management has acquired DoubleTree By Hilton Hotel Deerfield Beach – Boca Raton, a 221-key hotel in Deerfield Beach, FL. According to Berkadia, the arranged total transaction volume from the sale and financing was nearly $70 million.
Scott Wadler of Berkadia secured acquisition financing on behalf of the buyer. A local FL bank originated the three-year loan with two one-year extension options. Michael Weinberg, Preston Reid and Wyatt Krapf of Berkadia represented the seller, Vista Hospitality.
“The DoubleTree Deerfield Beach benefited from the strong leisure recovery that occurred coming out of the pandemic layered in with a return of group and corporate demand that has been more recent,” said Weinberg. “The strong cash flow was critical in getting this transaction closed in a very choppy capital markets environment.”
The DoubleTree Deerfield Beach – Boca Raton hotel was renovated in 2020. Hotel amenities include an on-site restaurant, free parking, pool, fitness center, pet-friendly rooms, and 22,000 square feet of meeting space.
- ◦Sale/Acquisition
