Marcus & Millichap Arranges Loan for Florida Hotel

The Springhill Suites by Marriott in Port St. Lucie is situated less than 20 miles from the Atlantic Ocean.
Springhill Suites by Marriott in Port St. Lucie, Fla.

Springhill Suites by Marriott, Port St. Lucie, Fla.

Miami—Marcus & Millichap has closed a $5.8 million loan on behalf of an undisclosed hotel development group. The new ownership of Springhill Suites by Marriott in Port St. Lucie, Fla., will be redesigning the hotel by completing a property improvement plan this fall.

The 4-story, 105-key hotel was developed by Marriott International Inc. Located at 2000 NW Courtyard Circle, the property is 1.6 miles from the St. Lucie Trail Golf Club and approximately 10 miles from Savannas Preserve State Park.

Guests are just a 17-mile car ride away from the Atlantic Ocean beaches. Hotel amenities include continental breakfast and complimentary on-site parking, as well as access to a heated outdoor pool, hot tub, fitness center and various nearby restaurants.

The debt placement was arranged by Marcus & Millichap’s Miami office Director Robert Bhat.

Image courtesy of Springhill Suites by Marriott