ORLANDO—Beyond South Florida, investors are eyeing Central Florida hotels. Postcard Inn, a 196-room boutique resort on Saint Petersburg Beach near St. Petersburg, FL, looked like a good bet.
HFF secured $26.128 million in post-acquisition financing for the Postcard Inn. HFF worked for the borrower, CRP 6300 Gulf, to secure the five-year, floating-rate loan through BankUnited. CRP will use the loan proceeds to finance the property.
Members of HFF's Miami and Tampa offices, including senior managing director and head of the firm's hotel group Dan Peek, associate director Scott Wadler, director Max Comess and real estate analysts Preston Reid, worked on the deal. The borrow plans to reposition Postcard Inn as a premier beachfront destination.
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