Ocean Bank Finances Deerfield Beach Fairfield Inn & Suites

Ocean Bank provided a $16.8 million loan to Hotel of Deerfield LLC for a 104-room Fairfield Inn & Suites, according to a release.

The hotel, located at 301 Hillsboro Technology Drive, features a pool, gym, on-site parking and a self-service breakfast area.

“We are pleased to have partnered with Ocean Bank on their financing of our Deerfield Beach property. Their team understood the asset, moved efficiently and provided a smooth lending experience from start to finish. We appreciate their support and look forward to growing the relationship,” said Sanjay Patel, president of Hotel of Deerfield LLC.

 

“Sanjay Patel is a successful and knowledgeable hotelier and businessman, with more than two dozen properties throughout Florida,” said Eddie Diaz, Executive Vice President and Head of Corporate Lending at Ocean Bank.  “We welcome him and his group as customers of Ocean Bank.”

Senior Vice President Alvaro Luis arranged the loan for Ocean Bank.