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.
Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories.
With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.