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Slate Asset Management Provides $14.9MM Loan Secured by Tru by Hilton Hotel in Florida

May 06, 2022, 08:00 AM
Filed Under: Hospitality

Slate Asset Management (Slate), a global alternative investment platform targeting real assets, announced that Slate Real Estate Capital has closed a $14.9 million senior loan facility provided to AD1 Global (“AD1”) to refinance the Tru by Hilton Hotel located in Dania Beach, Florida.

Tru by Hilton is a recently constructed, 115-key hotel located just 15 minutes away from the Fort Lauderdale-Hollywood International Airport, one of the highest trafficked airports in the United States with the largest forecasted passenger growth rate through 2035. The hotel is also in close proximity to the Port Everglades, one of the top three cruise ports in the world, and Dania Beach, a popular tourist destination.

This senior loan facility marks Slate’s second hotel investment in the Fort Lauderdale submarket. In January, Slate Real Estate Capital closed a $16.5 million bridge loan provided to AD1 to refinance the Wyndham Garden Hotel in Dania Beach, Florida.

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