SoTHERLY Hotels refinances Fla. hotel with $57M loan

12/31/2013 |

Bank of America Merrill Lynch is providing SoTHERLY Hotels with a $57 million refinancing loan for its Crowne Plaza Hollywood Beach Resort in Hollywood Beach, Fla. The real estate investment trust has a 25% stake through a joint venture with the Carlyle Group. The floating-rate loan is based on the one-month London Interbank Offered Rate plus 3.95%.

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