ValueXpress has arranged a $7.5-million CMBS conduit loan for the refinance of the Punta Gorda Waterfront Hotel & Suites in Punta Gorda, Florida. The property is a 2-story, 187-room interior-corridor hotel with waterfront views of Charlotte Harbor. The Punta Gorda Waterfront Hotel & Suites features a boating and sightseeing dock, outdoor heated pool and fitness center.
The hotel is located on Florida’s Gulf Coast between Tampa and Fort Myers. The Gulf Coast beaches along this stretch of coastline have been named some of the best due to the finest and whitest sand in the world; the powdery sand is nearly pure quartz crystal. The beautiful blue-colored water is clean and clear, making it very inviting to bathers and swimmers.
Guests can dine at Hurricane Charley’s Raw Bar & Grill, which is open for lunch and dinner and provides live music Friday and Saturday nights. A daily hot breakfast buffet is available in the restaurant. The Fishermen’s Village Resort and Blanchard House Museum is one mile from the hotel. Central Port Charlotte is a 10-minute drive away.
The transaction was arranged by Gary Unkel, Senior Loan Originator at ValueXpress. “This transaction was uniquely challenging in that typically non-franchised hotels are not prevalent in CMBS. However, we presented a compelling case to a more aggressive CMBS conduit lender and got the deal done.” said Unkel.