The Real Deal Miami

Loan on renovated Hilton Fort Lauderdale Marina in imminent default

December 23, 2010 10:19AM

Blackstone Group’s $105 million commercial mortgage-backed securities loan on the Hilton Fort Lauderdale Marina is now in imminent default, in the hands of a special servicer. The 579-unit hotel was recently renovated. Miami-based LNR Partners is the special servicer, according to a Fitch Ratings report on the hotel, which used to be the Grande Hotel & Yacht Club. A spokesperson for Hilton said she was unfamiliar with the report. Blackstone had three extensions, each for a 12-month period, on the debt, which matured in the beginning of 2008. [SFBJ]