{"id":1004182404,"date":"2017-06-29T04:58:44","date_gmt":"2017-06-29T12:58:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004182404"},"modified":"2022-12-04T01:08:39","modified_gmt":"2022-12-04T09:08:39","slug":"hff-secures-13m-in-financing-for-florida-beach-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hff-secures-13m-in-financing-for-florida-beach-hotel\/","title":{"rendered":"HFF Secures Financing for Florida Beach Hotel"},"content":{"rendered":"<p>By Mihaela Coste<\/p>\n<div id=\"attachment_1004182407\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/DaysInnPensacolaHotel_SIGN_view.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004182407\" data-attachment-id=\"1004182407\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hff-secures-13m-in-financing-for-florida-beach-hotel\/daysinnpensacolahotel_sign_view\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/DaysInnPensacolaHotel_SIGN_view.jpg\" data-orig-size=\"1280,849\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"DaysInnPensacolaHotel_SIGN_view\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/DaysInnPensacolaHotel_SIGN_view.jpg?w=1024\" loading=\"lazy\" class=\"wp-image-1004182407 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/DaysInnPensacolaHotel_SIGN_view.jpg\" alt=\"DaysInnPensacolaHotel_SIGN_view\" width=\"300\" height=\"199\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/DaysInnPensacolaHotel_SIGN_view.jpg 1280w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/DaysInnPensacolaHotel_SIGN_view.jpg?resize=300,199 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/DaysInnPensacolaHotel_SIGN_view.jpg?resize=768,509 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/DaysInnPensacolaHotel_SIGN_view.jpg?resize=1024,679 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004182407\" class=\"wp-caption-text\">Days Inn Hotel exterior, Pensacola Beach, Fla.<\/p><\/div>\n<p>HFF secured a non-recourse financing in the total amount of $12.6 million, for the acquisition and repositioning of the Days Inn Hotel, a 123-key <a href=\"https:\/\/www.commercialsearch.com\/news\/cbre-secures-60m-financing-for-miami-luxury-hotel\/\">beachside hotel<\/a> located in Pensacola Beach, Fla. The borrower is a joint venture between RREAF Holdings and Innisfree Hotels.<\/p>\n<p>Director Jeff Bucaro and Associate Nicole Schmidt led the HFF debt placement team in placing the non-recourse floating-rate loan through Benefit Street Partners Realty Trust, the transaction representing the 10th financing completed by Bucaro on behalf of the borrowers.<\/p>\n<h2><strong>Location and Amenities<\/strong><\/h2>\n<div id=\"attachment_1004182408\" style=\"width: 310px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/May_15_PNSDI_king_b_soundside_1.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004182408\" data-attachment-id=\"1004182408\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hff-secures-13m-in-financing-for-florida-beach-hotel\/may_15_pnsdi_king_b_soundside_1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/May_15_PNSDI_king_b_soundside_1.jpg\" data-orig-size=\"1280,852\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"May_15_PNSDI_king_b_soundside_1\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/May_15_PNSDI_king_b_soundside_1.jpg?w=1024\" loading=\"lazy\" class=\"wp-image-1004182408 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/May_15_PNSDI_king_b_soundside_1.jpg\" alt=\"May_15_PNSDI_king_b_soundside_1\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/May_15_PNSDI_king_b_soundside_1.jpg 1280w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/May_15_PNSDI_king_b_soundside_1.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/May_15_PNSDI_king_b_soundside_1.jpg?resize=768,511 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/May_15_PNSDI_king_b_soundside_1.jpg?resize=1024,682 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004182408\" class=\"wp-caption-text\">Days Inn Hotel Room<\/p><\/div>\n<p>The Days Inn Hotel is located on 16 Via de Luna Drive in close proximity to Ft. Pickens National Park, Gulf Islands National Seashore, Tiger Point Golf Course and the Gulf Breeze Zoo. The three-story hotel features spacious guest rooms, Wi-Fi, gulf-front location, complimentary parking as well as direct beach access.<\/p>\n<p>Upon renovations, which are slated for completion by late spring 2018, the hotel will feature two outdoor resort-style pools, a Tiki bar, upgraded landscaping, fitness center, business center, sundeck and an additional seven guest rooms.\u00a0<\/p>\n<p>Innisfree Hotels, which currently owns and operates over 20 hotels with 3,500 rooms primarily along the Gulf Coast of Florida and Alabama, will manage the property. In 1994, when the company acquired the next door Beachside Resort on Pensacola Beach, Days Inn was a Best Western hotel.<\/p>\n<p>\u201c<em>The years and several storm events have taken a toll on the property, leading to an eventual loss of the Best Western flag,<\/em>\u201d said Mike Nixon, president of Innisfree Hotels, in a prepared statement. \u201c<em>Innisfree and RREAF have applied for and been granted a new Best Western agreement and will convert the property to its original name after an extensive renovation during the fall and winter of 2017.<\/em>\u201d<\/p>\n<p><em>Images courtesy of Days Inn Pensacola Beach<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 123-key Days Inn Hotel will feature upon renovations two outdoor pools, upgraded landscaping, fitness and business center, as well as seven additional guest rooms. <\/p>\n","protected":false},"author":1192,"featured_media":1004182407,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21751,21783,21742],"tags":[32792,36479,36480],"class_list":["post-1004182404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-hotel","category-investment","category-latest","tag-hff","tag-innisfree-hotels","tag-rreaf-holdings"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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