Driftwood Capital has secured $60M to refinance the Hilton Cocoa Beach Oceanfront Hotel, a 295-key resort in central Florida’s Space Coast. Berkadia’s Michael Weinberg led a team that arranged the three-year, floating-rate loan with two extension options, full-term interest-only payments and no required depository relationship.
Driftwood’s Carlos Rodriguez, Sr. added, “The Space Coast is experiencing remarkable growth, solidifying its position as a premier multi-segment destination in Florida, catering to leisure, corporate, and meeting travelers. Just a 45-minute drive from Orlando, the market benefits from diverse demand generators such as the Kennedy Space Center, Port Canaveral, Patrick Space Force Base, and renowned beaches. With the imminent completion of the extensive guestroom and bathroom renovations, the Hilton is poised to become the leading full-service hotel in the region.”