CHARLESTON, SC-Wild Dunes Resort, a 1,600-acre luxury beach resort in the Isle of Palms, has secured a $30.75 million refi. The property is 11 miles form Charleston.
Led by senior managing directors Paul Brindley and Daniel Peek, HFF worked exclusively on behalf of Lowe Enterprises to secure the five-year, fixed-rate loan through an undisclosed life insurance company. Loan proceeds are paying off existing debt on the property.
“The complicating nature of the deal is that it’s got a lot of components,” Peek tells GlobeSt.com. “That makes it a little more difficult to underwrite than a traditional hotel.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
