Newmark Knight Frank Secures $130M Loan for Fort Lauderdale Resort
- Dec 19, 2019
Newmark Knight Frank has arranged a $130 million floating-rate loan from Deutsche Bank for the refinancing of the 481-key B Ocean Resort in Fort Lauderdale, Fla.
Jordan Roeschlaub and Dustin Stolly, together with Nick Scribani, Chris Kramer and John Gallagher, secured the financing on behalf of The Carlyle Group and InSite Group. The joint venture purchased the property in 2014 from Starwood Capital Group for $107 million, per public records.
Situated on Fort Lauderdale Beach at 1140 Seabreeze Blvd., B Ocean Resort was built in 1956 as The Yankee Clipper, with guestrooms and suites ranging in size from 300 to 1,700 square feet. Amenities include a private beach and 13,000 square feet of indoor meeting space soon to be extended to 33,000 square feet, as well as two pools, a spa and a fitness center. The B Hotels & Resorts-branded property recently underwent a multimillion-dollar renovation.
B Ocean Resort is 3 miles southeast of the city center and 6 miles northeast of Fort Lauderdale-Hollywood International Airport. The resort is less than 2 miles south of the 1.8-acre development site of the first ever five-star project in Broward County.
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