iBorrow Provides $17.25 Million Acquisition Loan for Boutique Hotel & Residences in Fort Lauderdale, Florida

LOS ANGELES— iBorrow, a nationwide private direct lender for commercial real estate, has provided a $17.25 million acquisition loan secured by a 129-room, full-service hotel and residences in Fort Lauderdale, Florida. The Borrower will use proceeds of the iBorrow loan to acquire, re-model and brand the hotel.

Brian Good, iBorrow CEO, said, “Despite the challenges of funding hospitality in the midst of the COVID-19 pandemic, we like this loan for many reasons. First, Fort Lauderdale is a popular tourist destination which has demonstrated its resilience despite the impact of COVID-19 more generally across the hospitality sector. The property is well-located and established within the local community and sits on valuable real estate. Second, the borrower is an experienced and successful hotel investment company.”

Good added, “We will continue to evaluate, selectively, hotel loans that feature larger properties, in strong markets, with experienced borrowers with financial strength, and a viable business plan. This deal checks all boxes.”

Contact:

Javi Herrera

Phone: (305) 733-1944

Email: [email protected]