Courtyard Marriott: Coconut Grove, FL

Location: Coconut Grove, FL
Type: Hospitality
Price: $14,300,000

SMC has provided a $9,300,000 loan for the refinance of Southwest Plaza, which is a 200,488 SF retail center located in San Angelo, TX. The property was built in 1997, renovated in 2004 and is Coconut Grove Courtyard by Marriott is a 196-Key, 17-story, full-service hotel located in Coconut Grove, Florida. SMC’s $14,300,900 first mortgage facilitated a refinancing and rebranding of the property. SMC’s first mortgage refinanced 57.9% of the total property value. Quote to close, we completed this loan in approximately one month.currently 88% leased to 31 tenants. RS