The Real Deal Miami

$65.5M loan for mixed-use near Ft Lauderdale airport

June 23, 2008 04:06PM

Great Florida Bank and HSBC have collectively loaned $46.5 million in construction financing to Boca Raton-based Economos Properties for the development of an 8.5-acre hotel, office and retail project planned near Fort Lauderdale International Airport. The project, located at the corner of Griffin and Ravenswood roads, is slated to include a 157-room Fairfield Inn & Suites by Marriott, a 124-room Homewood Suites by Hilton, 65,000 square feet of Class A office space and 6,000 square feet of ground-floor retail space. Transwestern has been chosen as the leasing agent for the project, which has a projected total cost of $65.5 million.