276-Key Hotel, Tampa, Florida
- Jones Lang Lasalle (“JLL”) has been retained on an exclusive basis to
- arrange the sale of a $45 million non-performing senior mortgage loan
- (the “Loan”). The Loan carries an interest rate of 4.30% floating over
- 30-day LIBOR (subject to a LIBOR floor of 1.90%), has an initial threeyear
- term followed by two, one-year options, and features an $8 million
- earnout advance.
- The Loan is secured by a 276-key hotel located in Tampa, FL (the
- “Collateral”). Constructed in 1974, the Collateral features resort style
- amenities including a restaurant, bar, café, 7,000 square feet of meeting
- space, two outdoor pools, a private dock, and sweeping views of Tampa
- Bay. The Loan is further secured by a pledge and collateral assignment
- of 100% of the membership interests (or other equity interests) in the
- borrowing entity.
- The Loan presents investors with the opportunity to acquire a nonperforming note on a well located, upscale hotel in a rapidly growing