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Driftwood Capital Secures $60.5M for Missouri Margaritaville Resort
Driftwood Capital, a vertically integrated commercial real estate firm, arranged the $60.5 million refinancing of Margaritaville Lake Resort, Lake of the Ozarks, a 520-key resort located in Osage Beach, Missouri.
Managing Directors Michael Weinberg and Scott Wadler, along with Associate Director Alec Fox, of Berkadia South Florida arranged the financing through Goldman Sachs Bank USA and Starwood Mortgage Capital. The five-year loan includes full-term interest-only payments at a competitive interest rate.
“Since acquiring and repositioning the iconic Tan-Tar-A Resort into a Margaritaville hotel, we have increased revenue by more than 50%, significantly outperforming our underwriting and solidifying our belief in the lifestyle concept,” said Carlos Rodriguez, Jr., President & COO at Driftwood Capital.
Located at 494 Tan Tar A Drive, the Margaritaville Resort Lake of the Ozarks includes a full-service marina, championship golf course, indoor water park, spa, and seven restaurants and bars. The closing comes on the heels of Driftwood’s recent $60M refinancing of the Hilton Cocoa Beach in Florida’s Space Coast.
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