St. Pete Beach, FL – February 9, 2017 – Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage and investment-banking firm, with offices in New York, Atlanta, Los Angeles and London, is pleased to announce that it has recently arranged the acquisition financing for the Sirata Beach Resort in St. Pete Beach, Florida.
The senior loan for the 15.4-acre oceanfront resort was secured at 65 percent loan-to-cost and at highly favorable pricing terms to the borrower.
The closing of the loan also marks the first transaction completed by Hodges Ward Elliott’s new Capital Markets group, led by Managing Director/Group Head, Lawrence Britvan. Since forming the Hodges Ward Elliott’s Capital Markets group in October 2016, the team has ramped quickly under Mr. Britvan’s leadership with a robust transaction pipeline that currently features $1.1 billion in active assignments, ranging from convention center hotel construction financing to large select-service portfolio refinancings.
Before joining Hodges Ward Elliott in October 2016, Mr. Britvan had previously served as Senior Managing Director at Cantor Commercial Real Estate.