NKF Arranges $27M Loan for Florida Hilton
- Mar 16, 2018
Secured through Ladder Capital Corp., NKF Capital Markets has arranged a $26.6 million acquisition loan for Hilton Melbourne Rialto Place, a 268-key, eight-story hotel in Melbourne, Fla. NKF Capital Markets Vice Chairmen Jordan Roeschlaub and Dustin Stolly, along with Associate Director Bob Tonnessen and Analyst Jason Deck, arranged the financing. The Buccini/Pollin Group (BGP) was the borrower, led by David Pollin, Robert Buccini and Christopher Buccini. The financing will be used for the acquisition and to fund the remaining Property Improvement Plan renovation of the facility.
Located at 200 Rialto Place, the hotel features 12,000 square feet of meeting space and markets, including the largest ballroom in the county. The property was also recently renovated.
“The Melbourne area is a rapidly growing corporate market with several large employers and a 130-acre business and industrial park,” said Roeschlaub in a prepared statement. “Working with the teams from BPG and Ladder Capital created a great opportunity to take an already outstanding hotel to a higher level of sophistication in a robust market.”
The Orlando Melbourne International Airport is located nearby. West Nasa Boulevard and South Babcock Street are both easily accessible from the property.
Photo via Google Street View