Joint venture scores construction loan for Marriott hotel in Coconut Creek

$21M project calls for 105-room Residence Inn by Marriott

Mar.March 09, 2018 09:45 AM

Rendering of Residence Inn by Marriott in Coconut Creek and Malcolm Butters (Morlin Hospitality Group and Butters Construction)

Miami-based Morlin Hospitality Group and its partner Butters Construction and Development just scored $15.5 million to build a Residence Inn by Marriott in Coconut Creek.

Property records show Mercantil Bank issued two construction loans to Coconut Creek Hotel M-R1 for $10.12 million loan and $5.38 million. The financing is for a 1.75-acre lot at 5730 North State Road 7. The joint venture paid $2.37 million for the land in 2017. Seth Fellman, who heads Morlin Hospitality Group, planned to break ground in 2016 but was delayed in permitting, according to the Sun Sentinel.

The $21 million development calls for a six-story hotel with 105 rooms equipped with kitchenettes, a pool, fitness center and laundry facilities.

Morlin also developed the 105-room Hampton Inn & Suites hotel next to the development site, at 5740 North State Road 7. That hotel opened in 2014.

Coconut Creek-based Butters is also partnering with the Bristol Group on the University Place office building in Coral Springs.

Related Articles

These real estate power players are involved in 2019’s juiciest lawsuits (Credit: Getty Images)

Here are South Florida’s juiciest lawsuits of 2019

Best of TRD 2019 promo

Coming soon: The Real Deal’s Best of 2019

2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

West Palm Beach Marriott (Credit: iStock)

Marriott family sells West Palm hotel for $50M

Madison Realty Capital'a Josh Zegen and Fort Partners' Nadim Ashi  

Four Seasons in Fort Lauderdale scores $210M loan

Daily Digest Miami

South Florida home sales struggle in October, Cipriani and Terra plan luxury condo

A conceptual rendering and Lon Tabatchnick

Margaritaville developer plans another Hollywood hotel despite opposition

Rendering of Sailboat Bend II

Affordable housing project in downtown Fort Lauderdale lands $27M loan