
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.