JLL Completes Sale, Financing For Sheraton Suites In Plantation
The 265-room all-suite hotel is prominently positioned along University Drive in the heart of Plantation’s rapidly expanding mixed-use district.
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The 265-room all-suite hotel is prominently positioned along University Drive in the heart of Plantation’s rapidly expanding mixed-use district.
The interest-only loan was structured as a single-asset, single-borrower CMBS transaction.
The project, which is located near Broward Health and the new Federal Courthouse, is anticipated to be completed in the first quarter of 2027.
Aventura 2999 LLC has filed a revised proposal for the four-acre property at 2999 NE 191st Street, where the prior plan called for a 26-story condominium tower with 295 units.
Leasing was led by Irma Figueroa, Senior Director of Leasing and Sales for Comras.
The transaction set a new pricing benchmark for educational facilities on the Treasure Coast at approximately $229 per square foot.
Ocean Bank provided $28 million. Senior Vice President Jesus Garcia arranged the loan.
Cleveland Clinic will be the facility’s anchor tenant, occupying the entire 34,000-square-foot first floor.
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The 2.77-acre site currently includes about 18,740 square feet of aging industrial space.
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