Dallas-based Hall Structured Finance provided a first lien construction loan totaling $40.89 million to finance the development of a new Hotel Indigo in Fort Lauderdale, Fla. The borrower is Genesis US Properties, a real estate investment firm headquartered in Miami.
Hotel Indigo Fort Lauderdale will be an eight-story, 144-room, full-service hotel featuring a 109-space parking garage on the first four floors. Amenities will include a restaurant and bar, outdoor swimming pool, fitness center, meeting room, business center, VIP lounge and a mini-market.
Located along Florida’s southeastern coast, Fort Lauderdale is part of the Miami metropolitan area and serves as a major hub for tourism, trade, and marine industries. The hotel is strategically positioned near key demand drivers such as Fort Lauderdale-Hollywood International Airport, Port Everglades cruise terminals, the Broward County Convention Center and the Fort Lauderdale Brightline Station.
“Hotel Indigo in Fort Lauderdale is located in a high-demand market with strong hospitality fundamentals,” Brad Ferguson, vice president of Hall Structured Finance and the loan originator, said in a statement. “With site work underway and foundations being poured, this marks a significant milestone in bringing a high-quality asset to one of Florida’s most dynamic tourism markets.”
Genesis US Properties is a Miami-based real estate investment firm specializing in the development and management of a growing portfolio of residential and commercial properties.