the sponsor required mezzanine financing, for a total of $15,000,000 in lender proceeds, for the acquisition of a 335 room resort in Port St. Lucie, Fl. The expansive waterfront resort is located along Florida’s Treasure Coast, a top vacation destination in the country with convenient drive-to and air accessibility. The Property boasts over 3,000 feet of frontage along the Intracoastal Waterway and includes a marina, 18-hole golf course, tennis complex, and a host of other unique amenities seated on 216 acres.
the property was purchased from Club Med by store capital and leased to the sponsor. the sponsor needed to procure lease financing on hospitality assets, during covid, with a short window to close and no extension options. as the mezzanine lender, we had less time to not only negotiate terms with the sponsor but to negotiate our relationship with the leaseholder.
our customized financing options are tailored to every transaction. additionally, Our council is well versed in complex debt financing matters and was diligent in their execution of our closing documents. all parties were committed to close.