Brookfield Properties Refis FL and GA Hotels for $220M
Canadian investment firm Brookfield Properties has refinanced a hotel in Ft. Lauderdale and another in Savannah, GA with a $220 million loan from Citibank and French investment bank Natixis.
The new loan includes $144.1 million for the Hilton Fort Lauderdale Marina, a 594-key hotel on the Intracoastal Waterway. The 364,000-square-foot asset was acquired by Brookfield in 2018 for $170.7 million.
The Westin Savannah Harbor Golf Resort & Spa accounted for the remainder of the loanBrookfield purchased the property, located on the shore of the Savannah River, in 202l for $78 million. It has 403 guest rooms and includes a PGA Championship 18-hole golf course
Brookfield has several hotels in the South Florida market. Brookfield sold the Diplomat Beach Resort earlier in the year for $835 million. At that time, the deal for the 1,000-room hotel was the biggest hotel sale in the nation since COVID.
Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.