{"id":309791,"date":"2026-06-16T22:15:07","date_gmt":"2026-06-16T22:15:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/309791\/"},"modified":"2026-06-16T22:15:07","modified_gmt":"2026-06-16T22:15:07","slug":"city-national-bank-of-florida-provides-33m-refi-on-fort-lauderdale-hotel-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/309791\/","title":{"rendered":"City National Bank of Florida Provides $33M Refi on Fort Lauderdale Hotel \u2013 Commercial Observer"},"content":{"rendered":"

Developer Tom Assouline has sealed a $33 million loan to refinance a hotel property in Fort Lauderdale, Fla., Commercial Observer has learned.<\/p>\n

City National Bank of Florida<\/a> supplied the two-year loan for the Garden Hotel & Resort, according to Institutional Property Advisors (IPA) Capital Markets, which negotiated the debt. IPA, a subsidiary of Marcus & Millichap, did not provide the borrower\u2019s name, but the 154-key hotel is owned by Assouline and his family\u2019s French real estate firm, Travel Research Online reported<\/a> last month.\u00a0<\/p>\n

SEE ALSO: Inside the AI Revolution Quietly Reshaping CRE\u2019s Slowest Data Layer<\/a><\/p>\n

Located at 3711 North Ocean Boulevard, the hotel recently underwent renovations to its guest rooms. The hotel has amenities that include three outdoor swimming pools, a poolside bar, beach access, complimentary bike rentals and a putting green.\u00a0<\/p>\n

IPA\u2019s Bobby Werhane arranged the transaction, which closed at a 65 percent loan-to-value ratio.<\/p>\n

\u201cLenders remain highly focused on differentiated hospitality assets that deliver a true experiential stay,\u201d Werhane, managing director in IPA\u2019s Charlotte office, said in a statement. \u201cWe were able to structure a financing that not only reflected the property\u2019s repositioning and strong market fundamentals, but also achieved a material improvement in rate.\u201d<\/p>\n

Assouline and City National Bank did not immediately return requests for comment.<\/p>\n

Andrew Coen can be reached at acoen@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Developer Tom Assouline has sealed a $33 million loan to refinance a hotel property in Fort Lauderdale, Fla.,…\n","protected":false},"author":2,"featured_media":309792,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[129217,249,251,250],"class_list":["post-309791","post","type-post","status-publish","format-standard","has-post-thumbnail","category-fort-lauderdale","tag-bobby-werhane","tag-fort-lauderdale","tag-fort-lauderdale-headlines","tag-fort-lauderdale-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/309791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=309791"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/309791\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/309792"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=309791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=309791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=309791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}