The developer of the Hotel Morrison along South Federal Highway in Dania Beach closed on $14.97 million in financing, Broward County records show.
N&S Properties, a Weston-based company led by Alvaro E. Correa, owns the property at 28-48 South Federal Highway. N&S paid $1.8 million for the 40,367-square-foot site in June 2014, according to property records. Banesco USA is the lender.
The company plans to develop a 143-room, seven-story hotel on the nearly 1-acre property in Dania Beach, according to a notice of commencement filed in August. The former building was demolished in December, records show. Bluewater Builders is the contractor.
The property is near the Fort Lauderdale-Hollywood International Airport, which is planning an expansion, and is within walking distance of Jaxson’s Ice Cream Parlour & Restaurant and the A1A.